Shell's LNG Portfolio Is Bigger Than Most Investors Realize. Here's the Volume Number.

Shell (NYSE: SHEL) sold 17.96 million metric tons of liquefied natural gas (LNG) in the second quarter of 2026. That's nearly 72 million metric tons on an annualized basis. And it's a good illustration of just how big Shell's LNG business has become. But there is a caveat here, as Shell's own LNG liquefaction volumes were just 7.7 million metric tons in Q2.

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You see, Shell does much more than simply produce LNG at its own facilities. Its massive trading operation also buys LNG from partners and third parties, then moves that supply around the world to customers willing to pay the highest prices.

An LNG giant

Shell currently has roughly 44 million metric tons of annual equity LNG capacity. It also operates one of the world's largest LNG shipping businesses, with its fleet representing roughly 10% of the global market. And there's still plenty of room for growth, too.

Global LNG trade reached roughly 422 million metric tons in 2025, and Shell expects demand to climb to nearly 700 million metric tons annually by 2050. Meanwhile, approximately 180 million metric tons of new annual LNG supply is expected to come online by 2030.

Indeed, Shell should be well positioned to participate in that growth. The company has spent decades building an LNG business that spans production, liquefaction, shipping, trading, and regasification. And with nearly 18 million metric tons sold in just three months, the scale of that operation is probably much larger than many investors realize.

Jeff Siegel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.