Petroleum giant will acquire LNG producer BG in 10 days, but with prices linked to oil, executives admit ‘difficult conditions’
Shell is about to massively increase its exposure to the liquefied natural gas (LNG) market just as profits in the sector dive, according to new figures from BG.
BG – the former international exploration and production arm of British Gas, which will become part of Shell in 10 days in a $35bn (£24bn) merger – ramped up its LNG shipments by nearly 60% in 2015, only to see earnings from this side of its business plunge by 67%.