Shell, U.S. LNG Exports: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
May U.S. LNG Exports Reach Second-Highest on Record - The U.S. exported 7.29 million metric tons of liquefied natural gas (LNG) last month, the second highest on record, as sales to Europe and South America expanded, according to Refinitiv Eikon data. The volume exported in May was up from 6.93 million metric tons in April, and 12% more than a year earlier, according to preliminary Eikon data, based on vessel tracking. The record was 7.67 million metric tons in March. (Reuters)

PRODUCTION
Britain Approves Plans for New Shell North Sea Gas Field - Britain's regulator on Wednesday approved Shell's (NYSE:SHEL) (London, England) revised plan to develop a North Sea natural gas field as the government seeks to boost domestic energy output following Russia's invasion of Ukraine. In a statement, Shell welcomed the decision and said it plans to move ahead with the development of the Jackdaw gas field, which has the potential to produce 6.5% of Britain's gas output. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)

NATURAL GAS
U.S. Natural Gas Futures Jump 7% on Output Drop, Record Power Use in Texas - U.S. natural gas futures jumped about 7% on Wednesday, erasing most of the prior session's losses, as preliminary data showed a drop in output while power demand in Texas hit monthly record highs. Power use in Texas reached the highest level on record for the month of May on Tuesday and was predicted to break the June record on Wednesday as economic growth boosts overall usage and hot weather causes homes and businesses to crank up their air conditioners. Front-month gas futures for July delivery rose 55.1 cents, or 6.8%, to settle at $8.696 per million British thermal units. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.