Shell CEO Confident on Long-Term LNG Demand
Pietro Pitts:
Shell Plc remains confident on the long-term outlook for LNG demand, especially in Europe, despite recent supply constraints, the company’s CEO Ben van Beurden and CFO Sinead Gorman concurred during a virtual webcast with various media outlets.
Shell’s LNG trading and optimization was “impacted by a combination of seasonality and supply constraints, where the business is geared towards supplying the northern hemisphere during the winter,” the company revealed in its third-quarter results.
Van Beurden continues to see LNG as a long-term growth segment with typical growth of 4% per annum and thinks the figure could be higher given higher energy consumption in Europe. In parallel with higher energy demand, the company has boosted its positioning in LNG in projects in Qatar from the North Field South and North Field East developments to Mexico, the executive said.
“We’ve signed up 8 million tons of new supplies for our portfolio coming on stream in the course of this decade. And we are very confident that LNG, of course, is going to be needed,” van Beurden said.
Shell has started commissioning a new LNG import terminal in the Netherlands “on the back of the confidence that we have in there being a long-term demand for LNG in Europe,” he added.
“And indeed, some of these long-term demands are in the form of long-term contracts as well. So yes, we stay with our confidence in the sector, particularly also in Europe,” he said.
Moscow’s military invasion in Ukraine earlier this year and the resulting geopolitical flare up has resulted in fewer oil and gas supply flows into Europe and the U.K. The situation has forced Russian energy dependent regions to pivot quickly to seek out other supply sources, such as U.S. LNG imports, to fill the immediate supply gaps that are likely to remain this winter and next, many energy and political pundits agree.
Shell continues to assist in the filling of gas storage in Europe ahead of winter, said Gorman, the company’s CFO, while adding that it is also taking initiatives to reduce its gas usage.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
