Shell to invest £25 billion in UK’s energy sector

Three-quarters of this investment will support offshore wind, hydrogen and EVs

Big Zero Report 2022

The UK’s energy sector is set to receive £25 billion worth of investment from Shell.

David Bunch, Shell’s UK Country Chair said: “Shell UK is planning to invest between £20 and £25 billion into the UK energy system over the next decade.

“More than 75% of this will be in low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility.

“These investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply whilst stimulating economic growth and jobs.”

Mr Bunch called for urgent government action to deliver policy and business case frameworks.

Last week, the government met with bosses from the oil and gas industry to discuss ways to boost domestic oil and gas production.

Commenting on this meeting, Mr Bunch said: “We will need a stable political discourse, as I mentioned in my meeting with the Prime Minister and industry leaders last week.

“We look forward to working together to help the UK secure its future energy supply and move towards its 2050 net zero target.”

A few days ago, it was reported that Shell was reconsidering withdrawal plans for Cambo oil field.

ELN contacted Shell – the company declined to comment on these reports.

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