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
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