, the world's biggest liquefied natural gas trader, said on Friday second-quarter gas trading results were expected to come in "significantly lower" quarter-on-quarter, though in line with the previous two years' second quarters.
Shell cited "seasonality and fewer optimisation opportunities" as reasons for its lower gas trading result. The benchmark front-month Dutch gas contract last traded at 32.90 euros per megawatt hour, down from above 100 euros last year - including a spike to over 300 euros in August - and 70 euros at the start of this year., which was up 0.7%.
"Weaker trading across oil and gas which should be expected by the market given lower gas prices and the seasonality of Shell's LNG portfolio."
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Source: Reuters - 🏆 2. / 97 Read more »