25 Mar, 09:11

Shell to boost LNG production by 4-5% per year through to 2030

The company also expects 1% annual growth of its gas production to 2030, sustaining 1.4 mln barrels per day of liquids production

MOSCOW, March 25. /TASS/. Shell plans to reinforce its position on the LNG market and boost LNG output by 4-5% per year by 2030, the company said in a statement.

"To deliver more value with less emissions Shell will reinforce our leadership position in liquefied natural gas (LNG) by growing sales by 4-5% per year through to 2030," the statement reads.

The company also expects 1% annual growth of its gas production to 2030, sustaining 1.4 mln barrels per day of liquids production.

Shell plans to enhance shareholder distributions from 30-40% to 40-50% of cash flow from operations, maintain capital discipline, with spend lowered to $20-22 bln per year for 2025-2028, and to grow free cash flow per share by more than 10% per year through to 2030.

‘‘We want to become the world’s leading integrated gas and LNG business and the most customer-focused energy marketer and trader, while sustaining a material level of liquids production," CEO Wael Sawan was quoted as saying.

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