Global LNG markets have returned to more “normal” trading similar to the period before early 2022, when Russia invaded Ukraine and caused natural gas prices to hit astronomical levels, Shell plc’s top executives said Thursday.
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CEO Wael Sawan and CFO Sinead Gorman discussed second quarter results and shared their insights on the markets during a webcast from London. As Shell is the top LNG trader in the world, investors were keen to learn more about how the integrated gas (IG) arm was faring.
“It feels much more like the new representative of the norm,” Gorman said. “Volatility has changed. If you were to look back to 2019 and then look back to just the war, you could see a difference. We’re now back to pre-war in terms of volatility.”