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Oil & Gas

Shell takes LNG focus in 2022 Energy Transition report

UK supermajor Shell has released its Energy Transition Progress Report for 2022, noting a focus on liquefied natural gas as a transition fuel.

With the Russian invasion of Ukraine last year causing Europe to reduce its reliance on imports of Russian fossil fuels, Shell said it delivered 194 LNG cargoes to Europe in 2022, almost five times their usual average.

Despite its controversial title as an “energy transition fuel”, Shell is marking it as a strong aspect of its energy transition.

“In LNG… we expanded what is already a world-leading business. We expect that LNG will play a key role in a balanced energy transition. It produces fewer greenhouse gas emissions than coal when used to generate electricity, and fewer emissions than petrol or diesel when used as a fuel for transport,” chief executive Wael Sawan said in his introduction to the report.

The company said it has reduced its carbon emissions from its operations by 30% compared to 2016 levels, more than half of its goal of a 50% reduction by 2030.

For its energy products that it sells, Shell said it has reduced carbon intensity by 3.8%. In last year’s report, Shell said it had reduced this carbon intensity by 2% to 3% by the end of 2021, and was targeting a reduction of 9% to 12% by 2024.

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