London, Jan 18, 2026, 08:20 GMT — Markets have closed.
Shell is considering selling up to a 30% stake in the LNG Canada export project, with Japanese partner Mitsubishi also reviewing its options, three sources familiar with the situation told Reuters. This could significantly alter investor perceptions of Shell’s LNG growth potential. Before the report surfaced, Shell’s shares in London ended Friday up 0.2% at 2,752.5 pence. Investors will get their first chance to react when trading reopens Monday. (Reuters)
Why it matters now: Shell has relied on its gas and trading operations to maintain steady cash flow as it continues returning capital to shareholders. LNG Canada stands out as one of the rare large-scale export plants built in a Western country in recent years. A partial sell-off would send a clear message about capital discipline, especially as partners consider expanding the site.
The timing feels off. Geopolitical tensions and winter weather have sent commodity prices swinging, often overshadowing deal chatter for now. Yet, the bigger picture still hinges on spending and returns over the long haul.
Shell pushed ahead with its buyback over the weekend. On Friday, it repurchased 655,057 shares in London and 523,698 in Amsterdam, all set for cancellation. The London shares went for between 27.20 and 27.76 pounds each, while the Amsterdam ones traded between 31.47 and 32.09 euros. (Globenewswire)
Oil, still the sector’s main profit driver, closed the week higher. Brent crude finished Friday at $64.13 a barrel, up 0.6%. Some investors were buying to cover shorts ahead of the Martin Luther King holiday weekend in the U.S., while others monitored tensions with Iran. “Buying today seems to be people not wanting to be caught short over the long weekend,” Phil Flynn, senior analyst at Price Futures Group, told Reuters. Yet, Phillip Nova analyst Priyanka Sachdeva cautioned the market “still points to ample supply.” (Reuters)
Gas markets saw a squeeze as the average LNG price for March delivery into Northeast Asia climbed to $10.10 per million British thermal units, marking a 6% rise from last week. Colder weather forecasts drew buyers back in. “The weather outlook across Northeast Asia and Europe has turned colder week-on-week,” said Kesher Sumeet, senior LNG analyst at Energy Aspects. (Reuters)
In Europe, Dutch TTF gas futures jumped roughly 11% on Friday, settling at 36.879 euros per megawatt-hour. The move intensified concerns over the winter supply crunch. (Investing)
In London, the wider market barely moved. The FTSE 100 edged down 0.04% on Friday, closing at 10,235.29. With little momentum from the index itself, individual stock news is likely to drive action when it hits after hours. (Reuters)
But there are clear caveats. A stake sale isn’t final until the papers are signed, and energy stocks often swing wildly with crude and gas prices—sometimes faster than bankers can secure bidders—especially when Middle East headlines stoke volatility.
Shell is set to release its quarterly results and announce its interim dividend on Feb. 5 at 0700 GMT. CEO Wael Sawan and CFO Sinead Gorman will hold an analyst webcast later that day. (Shell)
