By Eduard Gismatullin on December 03, 2012
Royal Dutch Shell Plc (RDSA) is expanding plans to make liquefied natural gas a fuel for ships and trucks as Europe’s largest energy producer looks to profit from the cheapness of U.S. gas compared with oil.
Shell, where gas production overtook oil for the first time this year, will increase LNG-for-transport projects to more than 5 million tons a year, said Shell Chief Financial Officer Simon Henry. That’s equivalent to about 120,000 barrels of oil a day, or 4 percent of the company’s global production in the third quarter. Shell will offer about half the volume to the trucking industry in Canada and the U.S. and the rest to shipping in the Great Lakes, Gulf of Mexico and the Baltic Sea. read more
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