Shell pledges to stay in Canada, top exec says
|About: Royal Dutch Shell plc (RDS.A)| By Carl Surran, SA News Editor
Royal Dutch Shell (RDS.A -0.4%) is staying in Canada even as others pull up stakes, Shell Canada head Michael Crothers tells Bloomberg.
Shell’s future in the country is largely as a natural gas producer and exporter focused on the US$30B LNG Canada project, though the company also is committed to its local chemicals and retail businesses, Crothers says.
Aside from LNG Canada – which is 40%-owned by Shell – and the Groundbirch gas production complex in British Columbia that will partly supply it, the company has some light oil production, the Scotford refinery, two chemicals plants and a carbon capture facility in Alberta, plus the Sarnia refinery and a lubricants plant in Ontario.
Shell also still owns a 10% stake in the Athabasca oil sands after selling most of its holdings in 2017; Crothers says the company has no plans to sell the rest because it is a core asset which provides feedstock for the Scotford complex.
9 Nov 2019
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