Shell, the global energy giant, announced plans to expand its natural gas operations and increase shareholder value, while scaling back investments in green energy initiatives.
Under the leadership of CEO Wael Sawan, Shell aims to grow its liquefied natural gas (LNG) sales by 4-5% annually through 2030. As the world's largest independent LNG trader, the company seeks to strengthen its dominant market position in the sector.
The strategy update reveals Shell's intention to limit its low-carbon investments, with green energy projects expected to represent only 10% of the company's capital allocation by 2030 - a figure that remains relatively unchanged from current levels.
"You can be sure of Shell," stated Sawan, reviving a classic company slogan to emphasize the firm's commitment to delivering consistent returns to investors through increased share buybacks and cost reduction measures.
In addition to expanding its gas business, Shell plans to streamline operations by potentially divesting or closing portions of its underperforming chemicals division, which the company suggests may be better managed under different ownership.
The strategic shift demonstrates Shell's focus on core profitable operations and shareholder returns, while maintaining a measured approach to green energy transition investments.
By prioritizing its established gas business and shareholder value, Shell appears to be charting a more conservative course in response to market demands and investor expectations.