Despite an expected rise in liquefied natural gas (LNG) prices this winter, Italian supermajor Eni SpA does not expect to earn a profit in the fourth quarter from its global gas and power business because it already optimized trading in the first three quarters of the year, management said during a third quarter earnings call last week.

“We have achieved already in these nine months the results that we are planning for the year,” in the global gas and power division, said CFO Francesco Gattei.

The company reported a third quarter loss of $587.9 million, (minus 16 cents/share), compared with a second quarter loss of $4.41 billion (minus $1.43) and a year-ago profit of $523 million (17 cents).

CEO Claudio Descalzi said those were “excellent results during the quarter,...