Stephen Stapczynski
Tue, September 5, 2023
(Bloomberg) -- Shell Plc is exploring a number of liquefied natural gas export projects in North America and Africa as the company expects strong demand for the fuel during the energy transition.
“There needs to be continued investment,” Cederic Cremers, executive vice president of LNG at Shell, said at the Gastech conference in Singapore. The company is considering plans for after its current slate of projects and investments — which include a facility in Canada — start through 2030, he said.
Gas demand is expected to continue to grow for quite some time in order to enhance energy security, curb consumption of dirtier coal and compliment intermittent renewable sources, Steve Hill, executive vice president of Shell Energy, said at the same conference.
Russia’s invasion of Ukraine last year upended gas markets around the world, triggering record-high prices and stoking worries about security of fuel supplies. Europe is rushing to replace Russian fuel with LNG, while nations across Asia are signing long-term deals to avoid future shortages.
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