Shell Is Looking To Push “Cleaner Fuel” In Indian Market

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Royal Dutch Shell is mapping new routes to bring “cleaner” fossil fuels to India as global investors call for firm commitments from oil companies towards climate change mitigation.

The world’s fifth-largest oil and gas company said India, which is the third largest country in terms of its people capital, is core part of its energy transition in line with the United Nations sustainable development goals and the Paris Climate Change Agreement.

Shell is exploring the use case application of liquefied natural gas (LNG) in heavy transportation and also investing in renewable companies in India. Fossil fuels, however, will remain a significant part of energy mix in the future.

The company is also working on renewable energy solutions — both biofuels and solar. Shell in India has picked up 49% in Singapore-based Cleantech, a renewable energy company with operations primarily based out of India, and invested in Husk Power Systems, a Bihar-based start-up.

On the LNG side, it is studying its Hazira terminal to put LNG in heavy-duty transportation.

Investors have been nudging most energy companies like Shell to act on achieving the Paris Agreement goals of reducing carbon footprint.

In joint statement with Climate Action 100+, an initiative led by investors with more than $32-trillion asset under management, Shell had said in December that it was setting up short-term targets as part of its “long term ambition” to reduce net carbon footprint of its energy products.

Reference- Economic Times

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