Shell is a global vertically integrated energy and petrochemical company operating in more than 70 countries. The company operates in the following segments: Integrated Gas , Upstream , Marketing (including Mobility, Lubricants, Sectors& Decarbonisation), Chemicals and Products, Renewables and Energy solutions. LNG sales volumes were 66.0 million tonnes in 2022 compared with 64.2 million tonnes in 2021. Shell is the leading LNG supplier globally. Shell operates 105k EV charge points. Shell is focusing on investments in renewables and gas, targeting zero emissions by 2050.
Shell, formerly The Royal Dutch Shell, is an international energy and petrochemical company. It is engaged in the exploration, production, refining, and marketing of oil, natural gas, chemical products, and LNG. The company operates in several segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewables and Energy Solutions, and Corporate. The Integrated Gas segment includes liquefied natural gas and the conversion of natural gas into gas-to-liquid fuels. The Upstream segment includes the exploration and production of crude oil, natural gas, and NGL. The Marketing segment comprises the Mobility, Lubricants, and Sectors and Decarbonisation businesses. The company operates oil refineries and produces chemicals using its own feedstock. The Renewables and Energy Solutions segment include Shell’s Integrated Power activities.
The global energy market remains under the influence of the Ukraine-Russia conflict resulting in a reduced supply of Russian gas and oil to Europe; Chinese lockdowns doe to COVID; increasing inflation; and a strong US dollar. World oil demand is now forecast at 101.8mb/d in 2023, according to IEA. Crude oil product deliveries to the US, UK, EU, Japan, and South Korea were cut by 2.2mb/d since the beginning of the war, with two-thirds of volumes rerouted to other markets. The LNG demand is forecast to reach 700mt by 2040 vs 360 in 2020. The Ukraine-Russia war may accelerate the LNG demand growth, in particular in the EU.
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