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RDS.A

Royal Dutch Shell

$69.31

1.18 (1.73%)

, RDS.B

Royal Dutch Shell

$71.59

0.66 (0.93%)

06:08
10/02/18
10/02
06:08
10/02/18
06:08

Shell Canada Energy gives green light to invest in LNG Canada

Shell Canada Energy, an affiliate of Royal Dutch Shell, announced it has taken a final investment decision on LNG Canada, a major liquified natural gas project in Kitimat, British Columbia, Canada, in which Shell has a 40% working interest. With LNG Canada's joint venture participants also having taken FID, construction will start immediately with first LNG expected before the middle of the next decade. Shell's 40% share of the project's capital cost is within the company's current overall capital investment guidance of $25-$30 billion per year. "We believe LNG Canada is the right project, in the right place, at the right time," said Ben van Beurden, CEO, Royal Dutch Shell. "Supplying natural gas over the coming decades will be critical as the world transitions to a lower carbon energy system. Global LNG demand is expected to double by 2035 compared with today, with much of this growth coming from Asia where gas displaces coal. LNG Canada is well positioned to help Shell meet the growing needs of customers at a time when we see an LNG supply shortage in our outlook. With significant integration advantages from the upstream through to trading, LNG Canada is expected to deliver Shell an integrated internal rate of return of some 13%, while the cash flow it generates is expected to be significant, long life and resilient." LNG Canada is a long life asset that will initially export LNG from two processing units or "trains" totaling 14 million tonnes per annum, with the potential to expand to four trains in the future. It is advantaged by access to abundant, low-cost natural gas from British Columbia's vast resources and the relatively short shipping distance to North Asia, which is about 50% shorter than from the US Gulf of Mexico and avoids the Panama Canal. The LNG export facility will be constructed using proven industry technology on a large, partially developed industrial site with an existing deep-water port, roads, rail and power supplies.The project was planned and designed by working closely with local communities, First Nations and governments to ensure sustainable development was considered in every aspect of the project. For example, the project has been designed to achieve the lowest carbon intensity of any LNG project in operation today, aided by the partial use of hydropower.

RDS.A

Royal Dutch Shell

$69.31

1.18 (1.73%)

RDS.B

Royal Dutch Shell

$71.59

0.66 (0.93%)

RDS.A Royal Dutch Shell
$69.31

1.18 (1.73%)

08/31/18
SANT
08/31/18
UPGRADE
SANT
Hold
Royal Dutch Shell upgraded to Hold from Underperform at Santander
08/31/18
08/31/18
NO CHANGE

On The Fly: Top five analyst actions
Catch up on today's top five analyst actions with this list compiled by The Fly: 1. BP (BP) and Royal Dutch Shell (RDS.A) were upgraded to Hold from Underperform at Santander. 2. Dollar Tree (DLTR) downgraded to Market Perform from Outperform at Telsey Advisory. 3. Electronic Arts (EA) and Activision Blizzard (ATVI) were downgraded to Neutral from Buy at BofA/Merrill. 4. Gain Capital (GCAP) initiated with a Neutral at JPMorgan. 5. Avaya (AVYA) initiated with a Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/18
BREN
09/11/18
INITIATION
BREN
Hold
Royal Dutch Shell initiated with a Hold at Berenberg
Berenberg analyst Henry Tarr started Royal Dutch Shell with a Hold rating and EUR 31 price target.
09/28/18
STFL
09/28/18
NO CHANGE
Target $5
STFL
Buy
Stifel reiterates Buy on Civeo as Shell seems close to starting LNG project
Noting that several reports over the last few days indicate a positive decision about a Shell-led (RDS.A) LNG project in Western Canada could be announced as soon as next week, Stifel analyst Stephen Gengaro reiterated his Buy rating and $5 price target on shares of Civeo (CVEO), for whom he has previously said the Shell project could be a "game-changer." If the LNG project receives a positive final investment decision, he believes Civeo will benefit via its ownership of Sitka Lodge, its 40% owned joint venture with Bird Construction and the potential for a long-term project for Civeo to provide ancillary services, said Gengaro.
RDS.B Royal Dutch Shell
$71.59

0.66 (0.93%)

11/03/17
SOCG
11/03/17
DOWNGRADE
SOCG
Hold
Royal Dutch Shell downgraded to Hold from Buy at Societe Generale
Societe Generale downgraded Royal Dutch Shell to Hold citing valuation.

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