Posted by JOHN DONOVAN: 22 May 2024
In the latest episode of “How to Ruin the Planet While Making Billions,” Shell, the infamous oil behemoth, has announced that it will generously provide more liquefied natural gas (LNG) to emerging Asian markets. Because what could be better for countries like the Philippines, Thailand, Vietnam, and Bangladesh than a hefty dose of fossil fuels?
Asian spot LNG prices hit their highest levels since January last week, thanks to scorching weather that left everyone sweltering and clamoring for that sweet, sweet “super-chilled fuel.” Shell’s Country Chair in Australia, Cecile Wake, beamed with pride as she revealed this grand plan at the Australian Energy Producers Conference. According to her, “That combination of decarbonisation, and declining domestic production (will drive LNG demand growth).” Yes, nothing screams decarbonization like ramping up fossil fuel production.