The oil and gas company Shell has designed a new strategy and aims to grow its business in sectors it expects to be important in the energy transition such as the power market: power-related activities should become the fourth pillar of its activities, alongside oil, gas and chemicals. Shell will expand in the power market as the energy system will increasingly electrify, and will invest in wind generation in the Netherlands, power supply to retail customers in the United Kingdom and hydrogen refuelling and electric-car charging. The group aims to raise the share of gas in its hydrocarbon production, from the current 50% to 75% by 2050, and boost renewable power sales. Shell will also develop the capacity of 20 large CCS plants by 2050.
So far, Shell manages 10 GW across North America - of which more than 1/3 from renewable energies - and acquired First Utility in the United Kingdom in 2016. Approximately US$1bn - US$2bn will be allocated for investments new energies until 2020, most of which in the power business (wind, solar and gas-fired power generation).