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SHELL TO PAUSE CONSTRUCTION OF EUROPEAN BIOFUELS FACILITY, WILL RE-EXAMINE COMPETITIVENESS OF THE FUEL
Jul. 8, 2024
Source: Shell news release
LONDON, UNITED KINGDOM -- Shell Nederland Raffinaderij B.V., a subsidiary of Shell plc, is to temporarily pause on-site construction work at its 820,000 tonnes a year biofuels facility at the Shell Energy and Chemicals Park Rotterdam in the Netherlands to address project delivery and ensure future competitiveness given current market conditions.
As a result, contractor numbers will reduce on site and activity will slow down, helping to control costs and optimise project sequencing.
"Temporarily pausing on-site construction now will allow us to assess the most commercial way forward for the project," said Huibert Vigeveno, Shell's Downstream, Renewables and Energy Solutions Director.
"We are committed to our target of achieving net-zero emissions by 2050, with low-carbon fuels as a key part of Shell's strategy to help us and our customers profitably decarbonise," added Vigeveno. "And we will continue to use shareholder capital in a measured and disciplined way, delivering more value with less emissions."
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