Shell’s Singapore moves to help fuel profitable energy transition

Quick Summary:

Its recent sale of refinery and purchase of major LNG trader here are making clear where it is headed.

The 237,000 barrels per day refinery and a 1 million tonne per year ethylene plant on Bukom and a chemicals manufacturing site on Jurong island formed the bulk of the impairment charges of up to US$4.5 billion (S$6.05 billion) announced by Shell earlier this year.

Shell believes that global demand for LNG will rise by more than 50 per cent by 2040, as industrial coal-to-gas switching gathers pace in China, South Asia, and South-east Asia.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaIndonesiaMalaysiaTrinidad and Tobago

Topics: Singapore Global Cent Demand Fuel Market Energy Transition Pavilion Shell Asia

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 16:45:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1205 words

Reading Time: 7 minutes read

Sentences: 47 lines

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Copyright Owner: © The Straits Times

News ID: 21682851

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