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Shell to ship first cargo of LNG from Australia's Prelude in Q2: CFO

London — Shell expects to ship its first LNG cargo from its Australian floating LNG production facility, Prelude in the second quarter, its CFO Jessica Uhl said Thursday.

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Speaking after the release of its Q1 earnings, Uhl said the first LNG would follow the shipment of the first condensate cargo from Prelude last month.

Prelude FLNG is one of the most anticipated LNG projects in recent years due to its deployment as the world's largest floating facility, though it has experienced delays due to unspecified production issues.

"We expect to ship our first cargo of LNG in Q2 this year," Uhl said.

The first gas flowed into the facility in the fourth quarter, she added.

Prelude has a production capacity of 3.6 million mt/year of LNG, 1.3 million mt/year of condensate and 0.4 million mt/year of LPG.

The facility, located 475 km north-northeast of Broome in Western Australia, is operated by Shell with a 67.5% stake.

Its partners are Japanese explorer Inpex with 17.5%, South Korea's Kogas with 10% and Taiwan's CPC Corp. with 5%.

-- Stuart Elliott,

-- Edited by Elizabeth Thang,