Shell will invest in hydrogen and CCS
Shell to invest up to £25bn in UK energy system
Firm will lay out more details about strategy in coming months as it looks to deploy recent profits to aid the transition
Shell has unveiled plans to invest £20-25bn ($26-33bn) in the UK energy system over the next ten years. More than 75pc of this is intended for low- and zero-carbon products and services, including offshore wind, hydrogen, carbon capture and storage (CCS), and electric mobility. The company will lay out more details about its strategy in the coming months. “These investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply while stimulating economic growth and jobs,” says Shell’s UK country chair, David Bunch. Shell’s global profits for 2021 rose to $19.3bn from $4.85bn the year before, partly due to strong earnings from its LNG divisio
Also in this section
18 February 2025
Demand for CCS to abate new gas-fired plants is rising as datacentres seek low-carbon power, Frederik Majkut, SVP of industrial decarbonisation, tells Carbon Economist
11 February 2025
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals
