(Bloomberg) -- Royal Dutch Shell Plc will post “significantly higher” earnings from its natural gas trading division despite supply disruptions to its sprawling portfolio, but its oil unit fared worse.

Shell has a huge portfolio of gas supplied by pipeline or carried in its liquefied form by ocean-going vessels. However, its earnings from the fuel fell short in the third quarter due to production problems in several locations. 

“Trading and optimization results in integrated gas are expected to be significantly higher,” in the fourth quarter, Shell said in a statement on Friday. The company overcame “ongoing supply issues” to make the most of high prices from liquefied natural gas.

However, results from its oil trading and refining unit were weaker with the division expected to post a loss. Oil trading results were “significantly lower” from the third quarter and realized refining margins were hit by extended maintenance at its Scotford refinery and the impact of Hurricane Ida.

The Anglo-Dutch major also promised to buy back $5.5 billion of shares “at pace” using the proceeds from asset sales. The share repurchases, first announced last year and funded from the sale of its Permian-basin oil assets in the U.S., was approved by Shell’s board on Dec. 31. The company didn’t then give a specific timeline and said it would disclose more details when it publishes its earnings on Feb. 3. 

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