Shell trimmed its liquefied natural gas production outlook for the fourth quarter on Wednesday and said oil and gas trading results are expected to be significantly lower than in the previous three months.

Shell ( NYSE: SHEL) trimmed its Q4 forecast; reduced its LNG production forecast to between 6.8 and 7.2 million metric tons, down from a previous estimate of 6.9 to 7.5 million metric tons, and lower than Q3's 7.5 million metric tons. It sighted lower feedgas deliveries and fewer cargos shipments.

Shell on Wednesday trimmed its LNG production outlook for the fourth quarter and said trading results for its chemicals and oil products division are expected to be significantly lower than in the third quarter.

Shell has lowered its LNG production forecast and expects reduced trading results in Q4. Facing impairments and a strategic shift, including stepping back from offshore wind, Shell's performance contrasts sharply with past profits.

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Shell has cut its liquefied natural gas production forecast for the fourth quarter of 2024 and warned that results from its trading business will be lower than in the third quarter. The UK oil major,

Shell revised its LNG production estimates and forecasted a dip in oil and gas trading outcomes for the fourth quarter, citing hedging contract expirations. The company announced potential impairments in its renewables division and noted a strategic shift away from new offshore wind investments.