Shell announced this in its fourth-quarter update note on Thursday, but it did not provide further details.
The company’s integrated gas segment reported adjusted earnings of about $2.14 billion in the third quarter of last year.
This compares to $2.87 billion in the same period in 2024 and $1.73 billion in the prior quarter.
Overall, Shell’s adjusted earnings reached $5.43 billion in the third quarter, down compared to $6.03 billion in the comparable quarter last year.
Adjusted earnings rose 27 percent compared to $4.26 billion in the prior quarter.
Liquefaction volumes
Shell also said in its quarterly update that it expects liquefaction volumes to reach 7.5–7.9 million tonnes in the fourth quarter.
The company previously expected liquefaction volumes to be approximately 7.4–8 million tonnes in the fourth quarter.
Shell’s liquefaction volumes of 7.29 million tonnes in the third quarter of last year were lower compared to 7.50 million tonnes in the same quarter in 2024.
Liquefaction volumes were 8 percent higher compared to 6.72 million tonnes in the second quarter of 2025.
Gas production
Shell expects integrated gas production to reach 930–970 kboe/d in the fourth quarter, while upstream production is expected to be at 1,840–1,9400 kboe/d.
The company previously expected gas production to be between 920–980 kboe/d and upstream production to be between 1,770–1,970 kboe/d.
Shell also said that the taxation charge across segments includes the annual (non-cash) reassessment of deferred tax assets.
“The deferred tax impact on joint ventures and associates in marketing and chemicals is expected to be ~$0.3 billion split roughly equally,” the company said.
Shell’s results are scheduled for publication on February 5.
