Shell to Offer LNG to Power Ships, Trucks on Cheap U.S. Gas
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Royal Dutch Shell Plc is expanding plans to make liquefied natural gas a fuel for ships and trucks as Europe’s largest energy producer looks to profit from the cheapness of U.S. gas compared with oil.
Shell, where gas production overtook oil for the first time this year, will increase LNG-for-transport projects to more than 5 million tons a year over the next decade, said Shell Chief Financial Officer Simon Henry. That’s equivalent to about 120,000 barrels of oil a day, or 4 percent of the company’s global production in the third quarter.