Energy major Shell intends to grow its LNG sales by 4% to 5% per annum in the period to 2030 as part of its goal to deliver more value with fewer emissions.
Outlining the strategy ahead of its Capital Markets Day 2025 in New York, Shell said it will grow its top-line production across its combined upstream and integrated gas business by 1% per year to 2030.
It will also sustain its 1.4m barrels per day of liquids production to 2030 but with increasingly lower carbon intensity.
The company is also planning to create higher returns in its downstream and renewables and energy solutions businesses.
Shell chief executive Wael Sawan said: ‘‘We want to become the world’s leading integrated gas and LNG business and the most customer-focused energy marketer and trader while sustaining a material level of liquids production.”
Sawan said Shell is being transformed as “simpler, more resilient and more competitive”.
The company outlined its plans with the overarching aim of delivering more value with fewer emissions.
The major is aiming to slash more structural costs with a $2bn to $3bn reduction target by the end of this year and a cumulative $5bn to $7bn by the end of 2028, compared with 2022.
The company is also lowering its capital spend to $20bn from $22bn per year for the 2025 to 2028 period.
But it plans to maintain its climate targets and ambition set out in Shell’s Energy Transition Strategy 2024.(Copyright)
