The oil giant is challenging, alongside the South African government, a decision by the Western Cape High Court to set aside the environmental impact assessment for Block 5/6/7 — a license previously held by TotalEnergies SE, the company said in response to questions.
HI also supports Shell’s plan announced on Capital Market Day 2025 to start up upstream and integrated gas projects with a total capacity of one million barrels of oil equivalent per day between 2025 and 2030. It also contributes to the company’s target to grow top line production across its upstream and integrated gas business by one percent per year through the end of the decade, Shell said.
The project to develop the Dragon gas field, located in shallow waters between the two countries, would replenish feedstock for Trinidad’s gas-starved liquefaction complex and petrochemical plants. Trinidad is a significant exporter of LNG, ammonia and other gas-based products.
Shell said in its third quarter 2025 update note that trading and optimization in its Integrated Gas division is expected to be “significantly higher” for the third quarter compared to the second quarter. Marketing adjusted earnings, as well as trading in the chemicals and fuels divisions, are also set to be higher than in Q2, said the supermajor, which reports full Q3 earnings on October 30.
Shippers were notified to have vessels ready as soon as early October to early November, according to the people, who asked not to be identified because the information is not public.
The North Cleopatra block lies in the frontier Herodotus basin in the Mediterranean Sea, and covers more than 3,400 square kilometres in water depths reaching 2,600 metres. Following the transaction, which is subject to approval by the Egyptian government, Shell will retain a 36% operating interest in the block, with Chevron holding 27% and Egypt’s Tharwa Petroleum Company holding 10%.
The news comes as unnamed sources told Reuters this week that Shell and its partners at LNG Canada were still having trouble ramping up output from the first train of the facility. Train 1 has been having technical difficulties since June, the Reuters sources told the publication, which has meant it was operating at less than half of its capacity, which is also 6.5 million tons annually.
As one of the UK’s most significant subsea infrastructure assets, the FUKA pipeline has the capacity to carry 36 million cubic metres of gas per day. From there, Victory gas will be delivered to the St Fergus Gas Terminal in north-east Scotland, where it is processed to provide a safe and reliable source of energy to the UK economy.
Sawan noted that natural gas is one of the best fuels to reduce emissions in places that currently rely heavily on coal, such as China, India, and the rest of Asia. “We are absolutely committed to this sector,” he said, reiterating Shell’s prediction from earlier this year that demand for liquefied natural gas is set to expand by 60% between now and 2040.
Kosmos Energy (KOS) has obtained a $250 million senior secured loan from Shell Trading (US) Company. This financing arrangement, which is expected to be completed by October 1, 2025, is intended to address Kosmos’s outstanding unsecured notes. Initially, $150 million will be used to partially redeem 2026 notes, while the remaining $100 million can be accessed until April 1, 2026. The loan is backed by assets in the Gulf of Mexico, carries an interest rate of SOFR + 3.75%, and will mature over four years.