Shell plc (SHEL) Led LNG Canada Project to Produce its First LNG

Shell plc (NYSE:SHEL) is one of the 10 Best and Cheap Stocks to Buy Now. On June 22, Reuters reported that Shell plc (NYSE:SHEL) led the LNG Canada project to produce its first LNG to export in British Columbia. The LNG Canada project is a joint venture led by Shell with partners including Petronas, PetroChina, Mitsubishi Corporation, and Kogas.

This is a notable event as this startup comes ahead of the projected milestone. The company had earlier notified that it remains on track to produce its first shipment by the middle of this year. The LNG Canada facility is recognized as the first large-scale project to begin production and is also significant due to its direct access from North America to the Pacific coast.

A gas refinery lit up against the night sky, showing the scale of the company’s petrochemical operations.

The sources of Reuters added the project can produce 14 million metric tones per annum when fully operational. The project’s Train 1 facility started the first production, which has a capacity of 5.6 million metric tones per annum. The sources added that LNG tanker Gaslog Glasgow is said to be approaching the Kitimat port and is anticipated to arrive on June 29 to be loaded with the first batch.

Shell plc (NYSE:SHEL) is a global energy and petrochemical company engaged in the exploration, production, refining, and marketing of oil, natural gas, and chemicals.

While we acknowledge the potential of SHEL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.