Shell Egypt, a strategic partner of the Egypt Petroleum Show (EGYPES) 2024, emphasized the importance of addressing the energy trilemma, showcasing innovative initiatives aimed at shaping a sustainable energy future. Shell spokespersons also discussed the evolving role of natural gas and liquefied natural gas (LNG) in the context of transitioning to an energy future with fewer emissions.
Eugene Okpere, Shell Executive Vice President of Exploration, Strategy & Portfolio, took part in a panel entitled “The energy trilemma and the continued importance of fossil fuels,” where he underscored the complexities of global energy challenges and the imperative for a balanced approach towards energy security, affordability, and environmental sustainability.
Okpere stated: “Today, close to 1 billion people do not have regular access to energy, and close to 2 billion depend on coal for their primary source of energy. Oil and gas will continue to play a crucial role in the energy system for several decades to come, with demand reducing gradually over time. At Shell, we subscribe to a just, and orderly energy transition. We will continue to produce the oil and gas as a reliable energy source the world needs today, whilst ensuring we continuously reduce emissions from our own operations and finding profitable and sustainable ways to transition to a net zero energy business.”
He concluded by emphasizing that solutions can only be found through 1) Collaboration: The Energy Industry, Governments and the Wider Society need to work together on winning solutions that match the resources and capabilities of their region or country. 2) Investment: Massive investment that is balanced – to produce lower-carbon barrels in the current energy system and lead the way in tackling the pressing imperative of transitioning to a future net zero energy system. 3) Technology & Innovation: Developing and deploying technology at scale, coupled with Innovation/New ways of working.
Key activities on the event’s second day included Shell’s participation in the panel discussion on “The Evolution of Natural Gas and LNG,” featuring Dalia Elgabry, Vice President & Country Chair of Shell Egypt. Panelists highlighted the essential role of natural gas and LNG in meeting the world’s growing energy needs while advancing towards a net-zero emissions energy system. Elgabry, representing Shell Egypt, contributed valuable insights into the significance of gas as a reliable, flexible, and lower-carbon energy source when compared to other fossil fuels.
Elgabry stated: “The need for low-carbon, affordable, and reliable energy is enormous and growing rapidly. Natural gas and LNG play a critical role in meeting this demand while contributing to the transition to a more sustainable energy future. Gas provides grid stability and flexibility, enabling the integration of renewable energy sources and supporting the decarbonization of various sectors.”
Elgabry emphasized the need to decarbonise the gas value chain, especially in light of Shell’s ambitions to become a net-zero emissions energy business by 2050 and showcased the company’s local initiatives, “In Egypt, Shell is implementing advanced technologies such as Leak Detection and Repair (LDAR) to reduce fugitive emissions from our operations in our joint ventures Rashpetco and ELNG. We are committed to achieving near-zero methane emissions by 2030 and to investing in innovative solutions to decarbonize industrial processes powered by gas.” She also highlighted Shell’s involvement in carbon capture and storage (CCS) projects worldwide as part of the company’s efforts to mitigate emissions from natural gas operations.
