Shell trimmed its liquefied natural gas production outlook for the fourth quarter on Wednesday and said oil and gas trading results are expected to be significantly lower than in the previous three months.

Shell ( NYSE: SHEL) trimmed its Q4 forecast; reduced its LNG production forecast to between 6.8 and 7.2 million metric tons, down from a previous estimate of 6.9 to 7.5 million metric tons, and lower than Q3's 7.5 million metric tons. It sighted lower feedgas deliveries and fewer cargos shipments.

Shell also said it would take $1.5 billion to $3 billion of non-cash, post-tax impairments, including up to $1.2 billion in its renewables division, linked to European and North American assets

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Shell revised its LNG production estimates and forecasted a dip in oil and gas trading outcomes for the fourth quarter, citing hedging contract expirations. The company announced potential impairments in its renewables division and noted a strategic shift away from new offshore wind investments.