The first shipment of liquefied natural gas (LNG) from Shell’s floating liquefied natural gas (FLNG) facility Prelude offshore Western Australia is imminent, the oil and gas supermajor said on its Management Day 2019 presentation to analysts. “With Prelude now producing LNG for more than a week and the first shipment of LNG being imminent, we are further de-risking the delivery of our $8-10 billion organic free cash flow target in 2020,” Shell’s Integrated Gas & New Energies Director, Maarten Wetselaar, told analysts, discussing the company’s LNG financial performance and targets. “Over the past three years we have consistently been growing both our LNG liquefaction and LNG sales volumes,” Wetselaar said. It was the LNG business that helped Shell post better-than-expected Q1 earnings, as the trading and natural gas businesses offset weak oil prices and depressed refining margins that plagued the other majors in the first quarter this year. The […]