Gas
'bridge to better world' for enery industry
Posted: 3 June 2003
Gas holds the potential to become the next generation's most important
fuel, Sir Philip Watts, Chairman of the Committee of Managing Directors
of the Royal Dutch/Shell Group, said today.
Sir Philip told the World Gas Conference in Tokyo that the abundance,
cleanliness and flexibility of gas meant it was the best medium-term
response to climate change and the ideal fuel to meet growing demand
for clean energy.
He emphasised, however, that realising this potential would require
close, long-term co-operation between businesses and governments.
"This success is not pre-ordained. We shouldn't underestimate
the challenges of building markets and delivering secure, economic
supplies over increasing distances.
"Major gas developments require uncommon financial, technological,
managerial and commercial strengths, as well as a high degree of
co-operation between governments and business."
The recently announced Sakhalin II project by Shell, Mitsui and
Mitsubishi is a clear example of governments and businesses working
together. The US$10 billion project, in Russia, is well placed to
placed to provide a new source of LNG for traditional buyers in
Japan, Korea, Taiwan, China and the west coast of North and Central
America.
Sakhalin II - launched on 15 May by Sir Philip and Viktor Khristenko,
Deputy Chairman of the Russian government - is the world's largest
integrated gas and oil development. It will provide major benefits
for Russia including 2,000 long-term jobs, 15,000 construction jobs,
a US$300 million project to improve Sakhalin's infrastructure and
US$45 billion revenues for the Russian state.
"I believe it will be seen as a major economic breakthrough
for the Russian Far East as part of the expanding economy of the
region," Sir Philip said. "The vision of the Russian government
has been vital in making possible the Sakhalin development."
While governments provided vision, Sir Philip said it was up to
companies to contribute the technical skills to find the gas, develop
the infrastructure and operate the system. With a stake in projects
that supply 40 percent of the world's LNG, Shell has the experience
and skills to play a major role in future gas projects.
He said: "One of our strengths in Shell is the experience
gained in designing and managing a unique range of projects over
many years. Developing projects of this magnitude and complexity
requires sustained effort by many people from all over the world
applying diverse skills and contributing to collective capabilities.
I believe our record of success is a testament to the inherent strengths
of the organisation."
For more information see www.shell.com.
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
