Oil Majors Win Big As LNG Prices Soar

Shell turned the lights back on at its Prelude offshore LNG facility just as Asia was being frozen by a cold spell that sent prices for liquefied natural gas sky-high. It couldn’t have timed the restart better. And it wasn’t the only Big Oil major that benefited from the price spike over commodity traders and independent producers of gas. An analysis from Reuters points to Shell and Total as two examples of why Big Oil is better placed to benefit from such price spikes: the supermajors simply have access to more LNG and the flexibility…