Shell and Total say new LNG project delays cloud global supply outlook

Shell and TotalEnergies, the world’s two largest listed LNG traders, said on Thursday that the exact timing of new LNG projects starting up around the world is in flux, which could create uncertainty about long-term supply.

New LNG projects are seeing delays as they face rising construction costs due to tariffs, with US LNG exporters seeking to renegotiate deals to cover those costs, while some big LNG projects are being delayed due to security concerns, for example in Mozambique.

"Supply growth on the horizon and those timings are uncertain. You've seen those move quite a few times between years," Shell CFO Sinead Gorman told reporters on a media call after Shell beat third-quarter earnings expectations.