Shell CEO advocates for stable policies to navigate energy transition
Bloomberg reported that Shell Plc’s CEO recently visited Washington to call for stability ahead of a US presidential election that could further disrupt the global energy sector.
During his two-day trip to the US capital, Wael Sawan emphasized the importance of steady policies. Shell is adjusting its strategy to manage the energy transition while facing investor pressure to prioritize its core petroleum business.
During a Center for Strategic and International Studies discussion, the CEO said, “There is nothing more important than stability and predictability.”
He added that the decisions made in Washington, the capital of the energy world, will have massive impacts and influence global spending.
Despite a “healthy” value proposition for renewable generation, Sawan added that investments in other technologies, such as blue hydrogen or green hydrogen, depend on receiving “the appropriate signals” irrespective of the administration in power.
“If we were to invest in green hydrogen here or in blue hydrogen, how competitive can we be against the alternative? If some of the incentives are taken away, are we able to continue to survive?”, He questioned.
Read more: Ceres and Shell collaborate to produce green hydrogen
Sawan described liquefied natural gas as a remedy for the instability caused by government policies, geopolitical changes, and the limitations of renewable energy.
He stated that this turbulence “creates a premium for flexibility,” which LNG can provide, particularly to meet the rising industrial demand in Asia.
According to last year’s annual report, Shell sold 67 million metric tons of LNG globally. The Institute for Energy Economics and Financial Analysis also notes that Shell possesses the largest LNG portfolio in the world.
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