05:03 AM EDT, 04/05/2024 (MT Newswires) -- Shell (SHEL) said Friday it expects "significantly lower" Q1 results in its liquefied natural gas business compared with its "exceptional" Q4.

In an update note, the company said LNG liquefaction volumes are expected to range from 7.2 million metric tons to 7.6 million metric tons in Q1.

The energy company also expects to take a write-off on oil exploration of about $600 million in Q1, mainly in Albania, while trading and optimization in the chemicals and products segment is anticipated to be "significantly higher" than Q4, it said.