Shell to invest up to £25 billion into UK energy system
By Trend
Shell UK is planning to invest between £20 and £25 billion into the UK energy system over the next decade, David Bunch, Shell’s UK Country Chair, said via a LinkedIn post, Trend reports.
In his words, more than 75% of this will be in low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility.
He noted these investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply whilst stimulating economic growth and jobs.
"However, Shell cannot act alone. Investing this money requires urgency of action across government to deliver the enabling policy and business case frameworks. These must address both the supply and demand side of the energy transition (in areas such as hydrogen and CCS, for example). We will also need a stable political discourse, as I mentioned in my meeting with the Prime Minister and industry leaders last week," he said.
Bunch noted the company looks forward to working together to help the UK secure its future energy supply and move towards its 2050 net-zero target.
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