Shell doubles LNG Canada capacity and Shell stock trades at EUR 42.54

Shell (ISIN GB00BP6MXD84) approved the LNG Canada Phase 2 expansion on September 29, 2026, doubling planned capacity from 14 to 28 million tonnes per year. Shell said the project is expected to begin commercial operations in the early 2030s.

LNG capacity doubles to 28 million tonnes

The decision adds two liquefaction trains and raises LNG Canada's total production capacity from 14 million tonnes per year to 28 million tonnes per year. Shell owns 40.00 percent of the joint venture and expects to receive additional LNG volumes from the expansion, while the project also includes new storage and loading infrastructure.

The scale matters because the project converts a current operating platform into a larger long-term gas position. Shell's expected share of the added capacity gives the company direct exposure to the expansion without requiring it to own the entire facility.

Q2 earnings support the investment case

Shell reported adjusted earnings of USD 9.8 billion for the second quarter of 2026 and operating cash flow exceeding USD 21 billion. The figures came alongside a USD 3 billion share buyback announcement, with completion planned by the third-quarter results announcement in October, according to Shell.

Shell also maintained its 2026 cash capital expenditure outlook at USD 24 billion to USD 26 billion. That range includes USD 4 billion for the ARC Resources acquisition and associated capital spending, leaving LNG Canada Phase 2 as a separate long-term growth commitment.

London listing and valuation context

Shell's ordinary shares trade on the London Stock Exchange Main Market under the input ISIN, as stated in a September 4, 2026 voting-rights filing from Shell. The primary-market quotation is in GBp, while the reference quotation for this article is the euro price at Lang & Schwarz.

Shell's primary-market context included a market capitalization of USD 266.6 billion and a 52-week range of USD 68.62 to USD 99.16 as of October 1, 2026. The euro quote therefore sits alongside a large-cap energy profile whose results remain sensitive to commodity prices, refining margins and LNG execution.

Shell stock stays near EUR 43

Shell stock was trading at EUR 42.54 at Lang & Schwarz on October 2, 2026 at 2:09 p.m. CEST, up plus 0.16 percent versus the prior close of EUR 42.47 on October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Shell stock.

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