Latest news with #CedericCremers
Business Times
01-07-2025
- Business
- Business Times
Shell-led LNG Canada ships first cargo to meet Asian demand
[LONDON] Shell has started exports from Canada's first liquefied natural gas (LNG) project, helping to meet rising Asian demand and extending its position in the global LNG market. The first cargo from the plant in British Columbia was loaded on the vessel Gaslog Glasgow. Operator LNG Canada Development said on Monday (Jun 30) that the ship is destined for 'global markets'. Shell owns 40 per cent of the project. LNG Canada is ramping up at a time when demand for gas is on the rise and buyers are focused on trading routes that avoid geopolitical flashpoints, particularly around the Persian Gulf. The plant at Kitimat on Canada's west coast is relatively close to customers in East Asia and comes on stream ahead of new export plants in the US and Qatar, which will not add substantial supplies to the market until next year at the earliest. 'We very much see it as a very strategic location on the Pacific coast,' Cederic Cremers, Shell's president of integrated gas, said. It 'connects very cost-competitive upstream gas from British Columbia to growing Asian demand,' he said. A second production unit, known as a train, will start up later this year, and the 14 million-ton-a-year facility will reach full capacity in 2026, Cremers said. Once both trains are online, Canada would rank eighth in global LNG exports, behind Nigeria, data compiled by Bloomberg shows. A further expansion is under discussion between Shell and its partners – Petroliam Nasional, PetroChina, Mitsubishi and Korea Gas – with a final investment decision likely next year, Cremers said. Shell expects global LNG demand to grow 60 per cent by 2040, led by Asia. The company is a shareholder in plants around the world, including in Qatar and Australia, has a massive trading operation and operates a shipping network that manages about 10 per cent of the global LNG fleet. The firm's LNG sales reached 66 million tonnes last year and are set to rise 4 to 5 per cent annually until the end of the decade, Cremers said. Between now and then, Shell expects to add 12 million tonnes a year of LNG capacity. BLOOMBERG
Cision Canada
01-07-2025
- Business
- Cision Canada
First cargo leaves LNG Canada
CALGARY, AB, June 30, 2025 /CNW/ -- Shell Canada Energy, an affiliate of Shell plc ("Shell"), announced that the first cargo of liquefied natural gas (LNG) has left the LNG Canada facility on the west coast of Canada. At 40%, Shell has the largest working interest in the LNG Canada joint venture. Located in Kitimat, British Columbia, the facility will export LNG from two processing units or "trains" with total capacity of 14 million tonnes per annum (mtpa). "LNG Canada grows our leading integrated gas portfolio, providing a reliable supply of LNG to markets, most notably in Asia," said Cederic Cremers, Shell's President, Integrated Gas. "We expect that supplying LNG will be the biggest contribution Shell will make to the energy transition over the next decade, and projects like LNG Canada position our portfolio to achieve this." As Asian markets transition away from coal, exports from LNG Canada are well positioned to play a crucial role in global decarbonisation efforts. LNG is a lower-carbon alternative to coal when used for electricity generation and a partner for intermittent renewables. Shell's LNG Outlook 2025 forecasts global demand for LNG is set to rise by around 60% by 2040, largely driven by economic growth in Asia. LNG Canada's strategic location on Canada's Pacific Coast connects cost-competitive upstream gas from British Columbia to growing Asian demand. LNG Canada brings a new source of economic development to British Columbia, delivering a competitive, secure, and reliable source of energy in partnership with local communities and First Nations. Notes to editors LNG Canada is a joint venture comprised of Shell plc, through its affiliate Shell Canada Energy (40%); PETRONAS, through its wholly-owned entity, North Montney LNG Limited Partnership (25%); PetroChina Company Limited, through its subsidiary PetroChina Canada Limited (15%); Mitsubishi Corporation, through its subsidiary Diamond LNG Canada Ltd. (15%); and Korea Gas Corporation, through its wholly-owned subsidiary Kogas Canada LNG Ltd (5%). It is operated through LNG Canada Development Inc. At Capital Markets Day 2025, Shell announced plans to reinforce our leadership position in liquefied natural gas (LNG) by growing sales by 4-5% per year through to 2030. Each LNG Canada joint venture participant will provide its own natural gas supply and individually offtake and market their respective share of LNG from the project. All LNG produced at the facility -- from day one -- will be provided to Shell and the other joint venture participants. Over 50,000 Canadians have worked on the LNG Canada venture with more than CAD $5.8 billion in contracts and subcontracts to local, Indigenous-owned and other businesses in British Columbia. The project includes an option for a future Phase 2 expansion, which could include the construction of two additional LNG trains, bringing total capacity to 28 million tonnes per annum (mtpa). Enquiries UK / International Media Relations: +44 20 7934 5550 Americas Media Relations: Asia Pacific Media Relations: [email protected] Middle East and North Africa Media Relations: [email protected] Cautionary Note The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement "Shell", "Shell Group" and "Group" are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms "joint venture", "joint operations", "joint arrangements", and "associates" may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Forward-Looking statements This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim"; "ambition"; ''anticipate''; "aspire", "aspiration", ''believe''; "commit"; "commitment"; ''could''; "desire"; ''estimate''; ''expect''; ''goals''; ''intend''; ''may''; "milestones"; ''objectives''; ''outlook''; ''plan''; ''probably''; ''project''; ''risks''; "schedule"; ''seek''; ''should''; ''target''; "vision"; ''will''; "would" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2024 (available at and These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, June 30, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement. Shell's net carbon intensity Also, in this announcement we may refer to Shell's "net carbon intensity" (NCI), which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell's NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell's "net carbon intensity" or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries. Shell's net-zero emissions target Shell's operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell's operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target. Forward-Looking non-GAAP measures This announcement may contain certain forward-looking non-GAAP measures such as adjusted earnings and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements. The contents of websites referred to in this announcement do not form part of this announcement. We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website
Yahoo
26-06-2025
- Business
- Yahoo
Shell denies reports of acquisition talks with BP
Shell has denied recent reports in the Wall Street Journal suggesting that the oil giant is in preliminary talks to acquire its British rival, bp, reported Reuters. A Shell spokesperson stated: "No talks are taking place. As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification." The denial follows a series of similar statements from the company, reinforcing its commitment to internal growth and share buybacks over large-scale acquisitions. BP, with a market valuation of nearly $80bn (£58.2bn) and net debt of $27bn, has frequently been the subject of takeover speculation due to the relative underperformance of its stock. However, the company's true value may not align with its current market price, the report stated. Shell's CEO, Wael Sawan, has consistently maintained that the company sets a very high bar for significant acquisitions, suggesting that repurchasing shares is a more strategic use of funds than a potential purchase of bp. This stance comes amidst industry buzz around the possibility of such a deal, which would be unusual given the current regulatory environment's heightened scrutiny of large mergers. The energy sector has not seen a transaction of this scale since Exxon and Chevron discussed a historic merger during the Covid-19 pandemic. Although the terms of any potential Shell-BP deal remain unknown, with no certainty of an agreement, CNBC has reported from unnamed sources that bp could face a break-up if a transaction were to occur. Earlier this month, Shell announced plans to expand its capacity by up to 12 million tonnes by the end of the decade, citing its Integrated Gas president Cederic Cremers. "Shell denies reports of acquisition talks with BP" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
Shell Eyes LNG Growth, 12M Ton Boost Planned by 2030
Shell plc (NYSE:SHEL) is one of the . Shell plc (NYSE:SHEL) declared on June 11 that it will expand its LNG capacity by up to 12 million metric tons from ongoing projects by the end of the decade. According to analysts, Shell plc (NYSE:SHEL) is a current buyer of about 70 million metric tons of contractual LNG annually. For comparison, Shell LNG Marketing and Trading shipped around 65 million tons of LNG to over 30 nations worldwide last year. Photo by Marc Rentschler on Unsplash Speaking on this, Shell's president of integrated gas, Cederic Cremers, talked about improving the company's ability to supply clients through contracts with third-party vendors and acquisitions, such as the Pavilion Energy purchase in Singapore, which was finalized at the end of the first quarter. He went on to say that by 2030, the United States and Qatar will account for 60% of the new production, with demand primarily coming from Asia and hard-to-electrify zones. Shell plc (NYSE:SHEL) is a global energy and petrochemical company that explores, manufactures, and markets bitumen, lubricants, low-carbon fuels, natural gas, crude oil, and natural gas liquids. While we acknowledge the potential of SHEL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
24-06-2025
- Business
- The Sun
Shell's LNG Canada hits key milestone with first gas output
HOUSTON/CALGARY: The Shell-led LNG Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday. The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz, a key shipping lane. The facility has not yet loaded its first LNG export cargo, although LNG Canada said it remains on track to do by the middle of this year. The facility is the first large-scale Canadian LNG project to begin production and also the first major LNG facility in North America with direct access to the Pacific Coast, significantly reducing sail time to Asian markets when compared with U.S. Gulf coast facilities. When fully operational it will have a capacity to export 14 million metric tonnes per annum (mtpa), according to company statements. Shell and its partners in the LNG Canada project are working toward reaching a final investment decision next year for doubling the project's 14 million metric tonnes per year (mtpa) capacity, Cederic Cremers, Shell's president of integrated gas, told Reuters. He added he expected the project's first phase to fully reach its 14 mtpa capacity next year, after starting up this month. LNG tanker Gaslog Glasgow is approaching LNG Canada's Kitimat port, according to LSEG ship tracking data. The vessel is expected to arrive on June 29 and will be loaded with LNG, the sources said. The LNG Canada project is a joint venture between Shell Plc , Petronas, PetroChina, Mitsubishi Corporation and Kogas. Once the facility enters service, Canadian gas exports to the U.S. will likely decline, traders said, as Canadian energy firms will have another outlet for their fuel. For now, the U.S. is the only outlet for Canadian gas. Canada has two other smaller LNG export facilities also under construction on the Pacific Coast. The facilities, Woodfibre LNG and Cedar LNG, are expected to be completed between 2027 and 2028. Canada exported about 8.6 billion cubic feet per day (bcfd) of gas via pipelines to the U.S. in 2024, up from 8.0 bcfd in 2023 and an average of 7.5 bcfd over the prior five years (2018-2022), according to data from the U.S. Energy Information Administration. That compares with a record 10.4 bcfd in 2002.
