Energy giant Shell expects boost in gas production
Thu, 6 April 2023 at 8:28 am BST
Energy giant Shell has said it expects to have produced more gas in the opening three months of this year than it did during the close of last year even as prices drop from recent extremes.
The oil and gas major said developments in Australia would also help it supply more liquid gas – the type transported by ship – to countries around the world.
The company’s shares rose by 1.8% after the news, while rival BP also saw a 0.6% boost.
Shell expects to have produced between 930,000 and 970,000 barrels of oil equivalent per day from its integrated gas division over the three months, up from 917,000 in the last quarter of 2022.
It also expects to load ships with between seven and 7.4 million tonnes of liquid natural gas (LNG) during the quarter, an increase from 6.8 million tonnes in the previous three months. read more
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