Shell cuts LNG ouput

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Via Argus:

Shell expects to reduce LNG production by 8-17pc this quarter as global LNG demand slows because of the Covid-19 outbreak.

Shell may need to reduce oil and gas production, LNG liquefaction, and utilisation of refining and chemicals plants as a result of demand or regulatory requirements or constraints in infrastructure, the firm said, adding that sales volumes could be similarly affected.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.