Shell plans to boost LNG sales by up to 5 percent per year

Shell is set to enhance its leadership in the liquefied natural gas (LNG) market, aiming for a 4-5% annual increase in LNG sales until 2030, the company announced in a press release, according to Report.

The company also plans to raise production in its Upstream and Integrated Gas segments by 1% annually through 2030, maintaining a liquid hydrocarbons output of 1.4 million barrels per day.

Additionally, Shell will focus on a structural cost reduction of $5-7 billion by the end of 2028 compared to 2022, revising its earlier forecast of $2-3 billion by the end of 2025.

From 2025 to 2028, Shell’s capital expenditures will drop to $20-22 billion annually, with an expected annual increase of over 10% in free cash flow per share through 2030.

“We aim to become the world’s leading enterprise in gas production and LNG, while maintaining significant liquid hydrocarbons output and positioning ourselves as the most customer-focused energy marketing and trading company,” said CEO Wael Sawan.