Shell targets up to 5% LNG sales growth to 2030

(Sharecast News) - Energy giant Shell said it was targeting 4-5% annual sales growth in liquefied natural gas to 2030 along with a 1% increase in gas production. Shell said it would sustain 1.4 million barrels per day of liquids production to 2030 with "increasingly lower carbon intensity".

In a statement ahead of its capital markets day, the company said it would enhance shareholder distributions to 40-50% of cash flow from operations from a prior target of 30-40%, while continuing to prioritise share buybacks and maintaining a 4% per annum progressive dividend policy.

The company added that it would lift its structural cost reduction target by the end of 2025 from $2-3bn to a cumulative $5-7bn by the end of 2028.

Reporting by Frank Prenesti for Sharecast.com