Shell Shares Gain as LNG Legal Battle Resurfaces Ahead of Earnings

Shell's London-listed shares ROSE 0.9% to 2,697 pence Tuesday, with U.S. ADRs climbing nearly 3% pre-market as investors weighed a New York court's review of disputed Venture Global LNG documents. The oil major seeks to overturn an arbitration loss over undelivered Calcasieu Pass cargoes, arguing withheld communications with engineer Lummus Consultants could alter the outcome.

Market sentiment found additional support from Shell's share buyback program, which repurchased 1.31 million shares ahead of its closure. Energy sector tailwinds emerged as winter storms lifted crude prices, though the pending court decision keeps LNG exposure risks in focus.

All eyes now turn to Shell's upcoming quarterly results and dividend announcement, where capital returns may offset legal uncertainties. The Venture Global dispute remains a key variable for Shell's long-term LNG strategy—a sector where operational leverage increasingly determines winners.