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Shell claims low-carbon edge

 

On Monday, reports surfaced that some of Shell’s money circulating in Nigeria was used for payoffs.

April 12 (UPI) — One of the largest oil companies in the world, Royal Dutch Shell said Wednesday it was focused on a low-carbon strategy that was geared toward long-term growth.

Shell highlighted its movement through a changing energy landscape in a sustainability report on activities last year. Chief Executive Officer Ben van Buerden said in the report that lower crude oil prices and a global community coordinated around the U.N.-backed Paris climate agreement meant changes were necessary for the oil and gas business.

In one of the biggest mergers in the history of the industry, Shell last year tied the knot with British energy company BG Group, building up a stronger natural gas portfolio. Van Buerden singled out natural gas as part of the low-carbon future.

“Our business strategy includes creating a world-class investment case for shareholders and strengthening our leadership in the oil and gas industry, while positioning the company for growth as the world transitions to a low-carbon energy system,” he said in a statement.

Globally, the company said in a sector review published in February that new liquefied natural gas was primed for growth. The company said the outlook for LNG demand is set to increase at twice the rate of gas demand, at 4 to 5 percent a year between 2015 and 2030.

China and India, among the fastest growing economies in the world, are leading the pack in terms of growth in LNG imports. Australia, where Shell has considerable holdings, is among the lead exporters of the super-cooled form of gas.

Shell has come under fire for some its conventional operations. Plans to tear down legacy infrastructure in the British waters of the North Sea were criticized for the lack of transparency by advocates from the environmental community.

On Monday, reports surfaced that some of Shell’s money circulating in Nigeria was used for payoffs.

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