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Shell CEO van Beurden sees a global carbon price as inevitable

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ABC.Net.Au: by Babs McHugh: 13 April 2016

The head of one of the world’s largest oil and gas companies says market forces will eventually result in a global price on carbon.

Royal Dutch Shell CEO Ben van Beurden made the call at the 18th International LNG Conference underway in Perth.

Mr van Beurden also championed the need for greater innovation in accessing new oil and gas reservoirs at acceptable costs, while acknowledging the tough position producers faced.

“Market conditions are pretty challenging,” he said.

“But at the same time new markets are opening up, like Thailand, Pakistan and even Poland.

“In the past these markets were too small for our consideration, but the rapid growth of floating re-gasification facilities, amongst other developments, has considerably lowered the costs for importers and it’s given us a lot of flexibility.”

Shell is building the world’s largest floating LNG plant, Prelude, which will extract gas hundreds of kilometres off the Western Australian coast

“I believe it’s not a matter of mandates, it’s not a matter of structures, that are going to be imposed top down,” Mr van Beurden said.

“I believe in the concepts of markets doing their work, putting a price on carbon, making sure we level the playing field.”

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