| Analysis | The future of Shell | 28 June 2010 |
Shell: from oil tanker to floating LNG vessel
by Karel Beckman
Shell is fairly rapidly changing from an oil into a gas company. While Shell’s gas production has been growing modestly, its oil production has been declining rapidly. As a result, the contribution of oil to Shell’s total production has slipped from 65% just a few years ago to 50% last year. In a few years from now, oil will be good for only 45%, gas 55%. This transformation, partly driven by choice and partly by necessity, opens up new possibilities for Shell, but also entails significant new risks. The most important question, perhaps, is how profitable will the gas market turn out to be?
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