Shell operates one of the largest LNG portfolios in the world, with liquefaction and regasification assets spread across the Americas, Asia-Pacific, and EMEA. Shell LNG terminals collectively represent hundreds of millions of tonnes per annum in contracted and equity capacity — positioning the company as both a major equity producer and a dominant trader in global LNG markets.
Shell LNG Terminals: Liquefaction Portfolio
Shell’s liquefaction exposure is concentrated in three producing assets across the Americas, each at a different scale of equity commitment.
Atlantic LNG in Trinidad and Tobago remains the largest single asset in Shell’s liquefaction portfolio. Operational across multiple trains, it carries a total nameplate capacity of 14.8 million tonnes per annum (mtpa), with Shell holding a 47.15% interest. The facility has long been a primary supply source for Atlantic Basin LNG trade.
LNG Canada, in which Shell holds a 40% stake, adds 14 mtpa of export capacity targeting Asian and global buyers — Canada’s first major LNG export project. Peru LNG rounds out the Americas liquefaction position with 4.5 mtpa of capacity and a 20% Shell interest; it remains the only natural gas liquefaction plant on South American soil.
Regasification: Costa Azul and Elba Island
On the regasification side, Shell holds capacity rights at Costa Azul in Mexico, a terminal that supplies imported LNG to both Mexican industry and markets in the western United States. The terminal plays a strategically useful role in Shell’s North American gas supply positioning.
Elba Island in the United States operates as a leased regasification facility and functions as a key re-entry point for LNG into the US domestic gas network. Both assets complement Shell’s trading and supply operations across the continent. For a broader look at how major regasification infrastructure ranks globally, see the Top 10 LNG Terminals in the World 2026.
Shell LNG Terminals in EMEA and Asia-Pacific
Shell’s Shell LNG terminals footprint extends well beyond the Americas, with equity and offtake positions across Europe, the Middle East, and Asia-Pacific. These assets are central to Shell’s role as a global LNG trading house — sourcing from liquefaction hubs and placing volumes into import markets across Europe and Asia.
The EMEA portfolio supports Shell’s European gas supply operations, where regasification capacity has become a critical lever for national energy security planning following the post-2022 restructuring of European gas supply. Shell’s Asia-Pacific positions connect into some of the world’s highest-demand LNG import markets, including Japan, South Korea, and China.
Adura: Shell and Equinor Combine UK Upstream Operations
On 1 December 2025, Shell and Equinor completed the merger of their UK offshore oil and gas businesses, forming a new combined entity called Adura, operating at adura.com. The deal creates one of the largest independent operators on the UK Continental Shelf by production volume.
Adura consolidates significant North Sea upstream assets under a single operating structure, with the stated intention of extending field life and managing decommissioning liabilities more efficiently. For Shell, the transaction reduces its direct operational exposure to UK upstream while maintaining equity interest through the combined entity.
Shell LNG Terminals in the 2026 Supply Context
Global LNG supply additions in 2025 and 2026 have been substantial, with new US export capacity and LNG Canada’s ramp-up reshaping trade flows. Shell LNG terminals sit at multiple points in this chain — as equity producers, capacity holders, and off-takers supplying Shell’s trading book.
Demand-side dynamics in Europe remain a key variable. European buyers have contracted heavily since 2022 to diversify away from pipeline gas, and Shell’s regasification positions on both sides of the Atlantic give it flexibility in cargo routing. The broader infrastructure context is examined in detail in 2026 LNG Storage Tsunami: How Infrastructure is Racing to Keep Up.
Shell’s total LNG equity production across all assets was reported at approximately 16 mtpa in recent annual reporting, separate from the volumes it sources through long-term supply agreements and spot trading. Among the companies building global gas positions, Shell ranks alongside Qatar Energy, TotalEnergies, and BP in terms of integrated LNG reach — as covered in the Top 10 Natural Gas Storage Companies Balancing Global Energy Demand.
Key Shell LNG Assets at a Glance
| Asset | Location | Type | Capacity | Shell Interest | Status |
|---|---|---|---|---|---|
| Atlantic LNG | Trinidad and Tobago | Liquefaction | 14.8 mtpa | 47.15% | Operational |
| LNG Canada | Canada | Liquefaction | 14 mtpa | 40% | Operational |
| Peru LNG | Peru | Liquefaction | 4.5 mtpa | 20% | Operational |
| Costa Azul | Mexico | Regasification | Capacity rights | Capacity holder | Operational |
| Elba Island | USA | Regasification | Leased | Lessee | Operational |
What are Shell’s main LNG liquefaction terminals?
Shell’s primary liquefaction assets are Atlantic LNG in Trinidad and Tobago (14.8 mtpa, 47.15% Shell interest), LNG Canada (14 mtpa, 40% Shell interest), and Peru LNG (4.5 mtpa, 20% Shell interest). Together these represent Shell’s core equity LNG production outside of joint ventures in Asia-Pacific and EMEA.
What is Adura and how does it relate to Shell?
Adura is the combined UK offshore oil and gas company formed on 1 December 2025 through the merger of Shell and Equinor’s UK upstream businesses. It operates as a standalone entity at adura.com and consolidates both companies’ North Sea assets under a single operator structure.
What regasification terminals does Shell operate or hold capacity in?
Shell holds capacity rights at Costa Azul in Mexico, which supplies LNG to Mexican and western US markets, and leases capacity at Elba Island in the United States. Both are operational and form part of Shell’s North American LNG supply infrastructure.
How much LNG does Shell produce from its equity assets?
Shell’s equity LNG production across its directly held assets has been reported at approximately 16 million tonnes per annum. This figure covers production from Atlantic LNG, Peru LNG, and LNG Canada, and is separate from volumes sourced through long-term supply contracts and spot trading.
Where does Shell sit in the global LNG market compared to other majors?
Shell is consistently ranked among the top three global LNG traders by volume, alongside TotalEnergies and QatarEnergy. Its position spans liquefaction equity, regasification access, long-term offtake agreements, and spot market trading, making it one of the most integrated players across the full LNG supply chain.