The return of LNG volumes in Australia, as well as stable natural gas and oil trading, should boost Shell plc’s results in the first quarter, the integrated major said.

Liquefied natural gas volumes are forecast to climb to 7.0-7.4 million metric tons (MT) in 1Q2023 from 6.8 MT in 4Q2022. 

Shell, in a preview of 1Q2023 results, credited “higher uptime” in Australia at the Prelude floating LNG facility and at the Queensland Curtis LNG facility. The gains translate to a 6% sequential increase in liquefaction volumes. 

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Integrated Gas production also is forecast to be higher sequentially. 

Output in 1Q2023 is expected to average...