Shell leaders in Singapore series

Title: Andrew Smith, President Trading and Supply

Duration: 1:13 minutes

Description:

Andrew Smith, President Trading and Supply

What keeps the world moving? Energy. And behind the scenes, Shell Trading and Supply plays a critical role in ensuring that energy reaches where it’s needed – efficiently, reliably, and responsibly. In our latest thought leadership video, Andrew Smith, President of Trading and Supply at Shell, shares with Harvonne Yap, VP of Products Freight at Shell Trading and Supply on how our global trading network connects markets and why Singapore is a strategic location.

Shell Imagines – Electrification Transcript

0:11

Hi, Andrew.

0:12

Welcome to Singapore.

0:13

It's really good to have you here with us.

0:15

It's a pleasure to be here, Harvonne.

0:17

First and foremost, congratulations on being appointed

0:20

president of Trading and Supply and a member of the Shell Executive Committee.

0:24

Thank you.

0:25

It's really impressive to be on the executive committee.

0:28

Please, will you share with us your journey towards being appointed to such a role?

0:32

It's been quite a journey to get here

0:35

and quite a bit of involvement in Singapore

0:38

on the way through to that journey.

0:40

I started studying chemical engineering and joined Shell

0:44

and spent my first 10 or 11 years doing really technical work.

0:47

Indeed, in my 11th year, I designed the catalyst cracker reactor that is in Singapore.

0:53

And then I moved to the commercial side of Shell.

0:56

I ran Shell's marketing companies in the South Pacific

0:58

before I joined Trading the first time to look after

1:01

the African product trading activity, and I loved that.

1:04

So I've spent probably 15, 20 years working on the trading side of Shell,

1:08

but been lucky enough to work in

1:09

just about every different part of Shell on the upstream, the marketing side,

1:14

the refining side, trading side, a little bit with chemicals.

1:18

And this has given me a set of experiences, and really helpful for doing my job.

1:23

Having been in Trading and Supply for 15 years myself,

1:25

I always get the question asked of me, what does Trading and Supply do?

1:29

How would you answer that question?

1:30

Trading and Supply does a wonderful variety of different activities.

1:35

On one hand, we are the central nervous system for Shell.

1:38

We market all the equity production of crude oil, gas, LNG (Liquefied Natural Gas) and electricity for Shell.

1:46

We take care working with the refining business to optimise the way that we run refineries

1:51

and we supply the marketing arms of Shell wherever they are with cost competitive, quality supply.

1:58

We're one of the world's largest energy traders.

2:01

But in addition to that, we also take care of the transportation activities

2:05

that involve moving fuels around the world, whether that be trucking, terminal, moving fuels by pipeline or by rail.

2:15

And we run a number of commodity marketing companies

2:19

and we take care of Shell's marine activities.

2:22

So whether that be designing a new ship to move liquid CO2

2:26

or helping supervise moving oil rigs around the world,

2:30

Trading and Supply is involved in all these things.

2:33

With the energy transition reshaping industries

2:36

how is Shell adapting its trading strategies to support lower carbon products and profitability?

2:43

I think the energy transition represents both challenges,

2:47

but a great set of opportunities for Trading and Supply.

2:50

It starts by listening to our customers and what they're trying to achieve.

2:54

But also we have to understand what governments are trying to achieve.

2:58

And if I think about the different things that we do,

3:02

we are one of the world's largest supplier, marketer and blender of biofuels

3:07

and whether that be ethanol or biodiesel, increasingly sustainable aviation fuel.

3:12

We're also very active in the power markets.

3:14

Last year, we sold around 306 terawatt hours of power,

3:19

which increasingly comes from renewables.

3:22

That's about five times the power consumption of Singapore.

3:26

But with that comes this challenge with intermittency,

3:29

which we look to address to things like batteries.

3:32

And we are investing into a number of flexible assets.

3:38

And then there's the role of gas in the energy transition.

3:41

We are the world's largest marketer and trader of LNG.

3:45

Getting even larger with the acquisition of Pavilion Energy right here in Singapore

3:49

and gas will have a very large role

3:51

and it's probably our key contribution to the energy transition.

3:55

It's incredible to hear about the dedication for such meaningful work.

3:58

Looking ahead, Andrew, since you mentioned Pavilion Energy

4:01

what do you see as Singapore's role in the Shell Trading and Supply business?

4:06

Trading has been an important part of Shell's DNA ever since Shell started,

4:11

and the trading activity

4:13

that Shell does in Singapore has been a big part of its activities

4:16

ever since Shell started in Singapore, and it's going to remain so.

4:20

Singapore is one of our key trading hubs around the world,

4:23

along with London, Houston, Rotterdam, and Dubai.

4:26

It's the sort of place where you can get the talent that you need

4:30

to run such a sophisticated market and the infrastructure around,

4:35

what you need to run a trading business is right here in Singapore.

4:39

We've been doing things like growing our LNG bunkering business.

4:42

We are the largest LNG bunker in the world.

4:45

and Singapore is a really important part of that.

4:49

And also, Singapore is a terrific place to run our Asia Pacific trading activities

4:55

from this very integrated region

4:58

and this is the region where there is the continuing growth of energy demand,

5:04

really important to be here and really important to grow this business

5:08

As a Singaporean, I'm really happy to hear that, Andrew.

5:10

Thank you so much for those valuable insights, Andrew.

5:13

Before you go, is there one thing you would like to share with the audience?

5:17

Look, I think life and work is an adventure.

5:20

It's what you make of it.

5:22

I think it's really important to keep pushing yourself to develop,

5:25

I also think that with the world being as complicated as it is,

5:29

it's really important to learn to collaborate and become good at collaborating.

5:33

Well, thank you for that piece of advice, Andrew.

5:36

I wish you all the best in this coming adventure.

5:38

Thanks very much, Harvonne.

5:52

Thanks very much Harvonne, and thanks for the opportunity to talk today.

5:56

And thanks for your time Andrew.

Title: Lubricants

Duration: 8:38 minutes

Description: Join Jason Wong, EVP Global Lubricants, and Darlina binti Mohd Sibi, Cluster GM MY/SG & SEA, Lubricants Asia-Pacific, as they delve into the world of Shell Lubricants. Discover the critical role lubricants play in keeping industries moving efficiently and reliably.

In this episode, Jason and Darlina discuss Shell's long standing track record in the lubricants market, the strategic importance of Singapore, and the future of lubricants as part of our sustainability journey. Learn how Shell Lubricants is evolving with technology and innovation, even with solutions for electric vehicles’ fluids and data centres’ cooling.

00:00:10

Hi Jason, good to see

you today in the office.

00:00:13

Hi Darlina, very good to see you.

00:00:15

First and foremost, when

we talk about Shell,

00:00:18

the first thing that

comes to people's mind

00:00:20

is actually the petrol station.

00:00:22

And perhaps if you're

hands-on with your car,

00:00:24

you might know Shell Helix,

00:00:25

but there's certainly more

00:00:27

to Shell Lubricants than that, right?

00:00:29

So maybe tell us a little bit more, Jason,

00:00:31

about Shell Lubricants.

00:00:32

Lubricant actually is

in almost everything.

00:00:36

So I think apart from the

cars, you think about it,

00:00:39

the main function of lubricant

is to reduce friction.

00:00:42

So think about the machinery,

think about the equipment.

00:00:46

Think about as long as you got parts

00:00:48

you need to keep the parts

moving, you need lubricants

00:00:51

to reduce the friction.

00:00:52

We have a diverse portfolio

and customer geography,

00:00:56

but why are we the best

lubricant supplier in the world?

00:00:59

Shell Lubricants is the market leader

00:01:01

for 18 years in a row.

00:01:03

The good thing on what

I feel even more proud

00:01:06

of is we are actually number one

00:01:10

quite evenly across the three

sectors that we operate in.

00:01:14

So one is consumer, you

talk about the passenger car

00:01:17

that you know, we drive day in, day out,

00:01:20

but actually we are also in

commercial road transport,

00:01:22

so the trucks.

00:01:24

At the same time, we are

also in, you know, B2B (business-to-business).

00:01:28

We are market leaders

in all three sectors.

00:01:31

Why we are doing so well,

00:01:34

I would say that there are five things,

00:01:36

I would call them

strategic differentiators.

00:01:39

The first thing is that we

are a very famous brand.

00:01:43

Our brand share preference is very high.

00:01:45

Secondly, technology. 

00:01:46

We are the first in the market to launch, you

know, gas-to-liquids technology

00:01:51

and you know that we got

the gas-to-liquids plant,

00:01:54

it actually produces base oil.

00:01:56

And we use the base oil

to produce our lubricants,

00:01:59

as one of the key, you know, raw materials

00:02:03

or the feedstock, you know,

for our lubricants product.

00:02:06

And you know, it's very, very successful.

00:02:09

And linked to that of course

then we have, you know,

00:02:13

great partnership with the

OEMs (Original Equipment Manufacturers).

00:02:15

And by applying our technology

00:02:18

to actually work with the

OEMs on the next generation

00:02:21

of product development,

00:02:22

it always give us the technology

leadership in this space.

00:02:27

And you know, the last

two are actually linked

00:02:29

to our footprint and our people.

00:02:32

We've got our good people,

00:02:33

we've also got our distributor network,

00:02:35

in order to provide that global reach.

00:02:38

But last but not least,

we also have our assets,

00:02:40

yeah, our global supply

chain to enable us to,

00:02:44

you know, have competitive

products to be serving

00:02:46

to the customers.

00:02:47

We got around 30 lube oil

blending plants in the world,

00:02:51

and at the same time more

than 10 grease plants.

00:02:54

How does Asia fit in the overall

Shell Lubricants’ footprint

00:02:58

and its growth aspiration?

00:03:00

If you think about growth potential,

00:03:02

actually it's very much in the east.

00:03:05

Now of course, you know, US

and Europe continue to be,

00:03:08

you know, our bread and butter.

00:03:11

But growth market, you think about it,

00:03:14

China, India, Indonesia,

00:03:16

they all sit in this part of the world.

00:03:18

So it's very logical that, you know,

00:03:21

Singapore being our regional hub.

00:03:23

I'm also proud that in Singapore,

00:03:25

we have one of the largest

lubricants blending plant

00:03:27

and grease plant for our portfolio, Tuas,

00:03:30

and Tuas, very proudly to say,

00:03:33

that it's not just serving

the Singapore market,

00:03:35

but also more than 40 countries globally.

00:03:38

So tell us a little bit about

why Tuas, why in Singapore,

00:03:42

how does Singapore fit also

into the whole jigsaw puzzle

00:03:45

of this Shell Lubricants’ portfolio?

00:03:48

You know, Asia is our growth region

00:03:51

and it's very important that, you know,

00:03:53

we got enough supply chain capacity

00:03:55

to be able to serve our

customers while we are growing.

00:03:59

So Tuas is not only

a lube oil blending plant,

00:04:01

but it's also a grease plant.

00:04:03

And apart from this region, as you say,

00:04:05

we are serving to different parts,

00:04:06

I think in particular to Latin America.

00:04:09

Actually quite a bit.

00:04:10

And at the same time, we

are also serving Australia.

00:04:12

We are also

producing quite a lot

00:04:14

of marine lubricants at our Tuas plant.

00:04:17

So not only that they are serving

00:04:19

the Shell Lubricants

business, but we are also,

00:04:21

supporting our Marine business

00:04:25

to serve their customers in the market.

00:04:27

Singapore is such a

convenient place, you know,

00:04:29

to be an export hub.

00:04:31

And so it allows us to not be just

00:04:33

serving customers in the region,

00:04:35

but it's also serving customers globally.

00:04:38

Indeed, Tuas is really

an important part of that.

00:04:41

And in this part of the world

in Singapore particularly,

00:04:43

the topic of sustainability

and energy transition

00:04:47

is obviously something that's

00:04:48

very close to all our hearts.

00:04:50

Maybe say a little bit more

in terms of your ambition

00:04:54

and what is the outlook

on that for the business?

00:04:58

Yeah, so I would say that maybe look

00:05:00

at the end-to-end value

chain of the business.

00:05:03

If we start from the raw material,

00:05:06

so I just mentioned

that I think majority of our

00:05:09

raw material feedstocks

actually come from base oils.

00:05:13

So what we will be actively

looking for sourcing

00:05:16

is what we call our RRBO (re-refined base oil).

00:05:18

We find recycled base oil as feedstocks,

00:05:22

that actually already provides

00:05:24

sustainability footprint

00:05:26

in the product that we produce.

00:05:28

And if we move along the value chain

00:05:30

then is around the

production side of the thing

00:05:33

and you know that, in Shell 

we've got a Scope 1, 2 targets,

00:05:36

to reduce

our emission by 50%, by 2030.

00:05:41

We are actually

making very good progress

00:05:43

and we are actually

pretty close to that 50%.

00:05:46

Also then look at

how we serve our customers,

00:05:49

the product we sell,

00:05:51

whether that is a sustainable,

00:05:53

that's what we call Scope 3,

00:05:55

of course we got a 

very big customer base,

00:05:58

we should be able to help

our customers to decarbonise.

00:06:01

And last but not least, also

think about the packaging.

00:06:04

And when you got

the packaging material,

00:06:07

whether they're recycled? And

we do have deliberate effort

00:06:10

being put there.

00:06:12

So that is an end-to-end process.

00:06:14

We look at how to actually help ourselves

00:06:16

to get even more sustainable.

00:06:18

So apart from sustainability,

the market continues

00:06:21

to evolve and demand continues to change

00:06:24

with the customer’s needs.

00:06:25

What's new in Shell Lubricants?

00:06:26

One of the hot topics is

around the electrical vehicle.

00:06:29

And to be honest, actually back in 2019,

00:06:33

we already started to develop

00:06:35

a good portfolio of E-fluids

00:06:38

as well as E-greases, you know,

00:06:41

to serve this particular segment.

00:06:43

Sounds like we're ready

now for our customer,

00:06:45

but also ready as the customer

evolve, the demand evolve.

00:06:48

What else is brewing

in the Lubricants space?

00:06:51

So I touch very briefly on E-Fluids

00:06:53

for the EV cars.

00:06:56

But actually, one of the

00:06:57

big thing that is coming up,

00:07:00

the exponential growth I would say

00:07:02

in the Gen AI, digital AI space.

00:07:06

and for people who need actually

00:07:09

more computing power and all that,

00:07:12

you will generate heat

00:07:13

and you actually need

to be able to do better

00:07:17

thermal management in order to manage

00:07:22

the temperature of the operation.

00:07:25

Can you share more about

immersion cooling fluid

00:07:28

and what are we doing

about it at the moment?

00:07:30

Yeah, so the key word in

this space is partnership.

00:07:33

We've been signing a

lot of non-binding MOUs

00:07:35

with many different parties

00:07:37

to be able to look at solutions

00:07:39

in the entire ecosystem of data centres

00:07:43

to be able to really address

00:07:44

some of the electricity requirements,

00:07:49

water efficiency, as well

as the thermal management,

00:07:52

as you spoke about.

00:07:53

And Shell's immersion cooling fluid

plays a very important role

00:07:56

in there as an alternative

or even better solution

00:07:59

than what we currently have in terms

00:08:01

of cooling the data centres.

00:08:02

Definitely, so I mean you

probably are aware globally,

00:08:07

we do have different

partnerships as well, right?

00:08:09

So with Intel we already

00:08:13

got the preliminary exclusive

certification from them.

00:08:18

So which means that we already

getting to the final stage

00:08:21

of the testing with them.

00:08:23

And at the same time we already announced

00:08:24

close collaboration with

BYD in China as well.

00:08:27

So I do look forward to

hearing more good news

00:08:30

from Asia going forward.

00:09:37

And actually it's not just,

you know, in one sector,

00:09:41

all three, you know,

we are doing very well

00:09:43

on brand share preference.

Title: Tan Min Yih, SVP, Shell Mobility Asia | Shell leaders in Singapore

Duration: 7:49 minutes

Description: Watch Tan Min Yih, SVP of Shell Mobility Asia, and Doong Shiwen, GM of Shell Mobility Singapore, as they share insights into Shell’s mobility strategies across Asia.

Learn how our collaborative efforts are helping shape the future of mobility and see how Singapore's regional role enhances our capabilities. Discover more about Shell's work towards a sustainable energy landscape as we make life’s journeys better.

00:00:08

Thank you Min Yih for joining us today

00:00:09

and accepting our invitation

00:00:11

to talk more about mobility in Asia.

00:00:13

You are the senior vice president of Asia,

and you lead a vast team

00:00:17

across the whole of Asia.

00:00:19

Asia seems like a region by itself,

but really it's a lot of

00:00:22

different countries, different challenges, cultures.

00:00:24

It’s really a melting

pot of different opportunities as well.

00:00:27

Really would like to hear

your thoughts on

00:00:30

how Mobility is set up or is setting

itself up to capture the opportunities

00:00:35

and of course address some

of the challenges on hand.

00:00:37

We have the brand. We have the technology,

00:00:40

we have the assets, which is the network.

00:00:43

And most importantly, we have

our own people with the capabilities.

00:00:47

And what – to me – is important for me

00:00:51

is the pride and professionalism

that we have demonstrated.

00:00:56

One of the strengths

and weaknesses of us in Asia is that

00:01:00

we are sometimes underestimating ourselves.

00:01:03

So what we do matters,

and what is important is that we have

00:01:07

the confidence that we are able

to grow from strength to strength,

00:01:11

and the strong foundations built by

00:01:14

our predecessors have set us up for that.

00:01:17

Perhaps when we talk

about evolving challenges,

00:01:19

there is really nothing more evolving

right now than the energy transition.

00:01:23

Like you mentioned, different countries

are going at different speeds.

00:01:28

I speak for Singapore

and I can see that energy transition

00:01:32

largely, is evolving very fast

in the space of electric vehicles.

00:01:37

By 2040, they want all cleaner vehicles,

00:01:41

on the road, which means no internal

combustion engines or no traditional vehicles.

00:01:45

That will pose a lot of,

different unconventional challenges to us,

00:01:49

which we have been meeting.

00:01:50

Very often, our customers say,

00:01:52

"Hey, with electric vehicles coming all the way through,

is our service station all going the way of the dinosaur?"

00:01:59

Maybe give me a response to that.

00:02:00

One of the things that I keep telling everyone is

00:02:03

my personal belief that

if I may paraphrase Mark Twain,

00:02:07

the demise of the fuels retailing

is grossly exaggerated.

00:02:11

But what really matters

to us is the fact that

00:02:15

we believe very strongly

with a lot of conviction

00:02:19

that making life's journeys better

really means something for Shell Mobility.

00:02:25

And this to me, applies to both

00:02:28

our customers as well as ourselves.

00:02:30

And when we look at what we are

trying to manage in terms

00:02:33

of this aspect of energy transition,

00:02:36

frankly, we have the capability

to provide the customers

00:02:41

with so much innovation

and value proposition.

00:02:45

And that's why when we talk

about what we can do,

00:02:48

we are essentially talking

about what we can

00:02:52

put on every site as destinations.

00:02:55

And that to me allows us to

confront the realities of energy transition

00:03:03

and thrive through in order for us to

actually get more value and less emissions.

00:03:09

I resonate a lot with that

00:03:10

because if you look back

just a couple of years, I mentioned 2019,

00:03:14

we put our first charger

on the ground and since then

00:03:17

we have Shell Café,

we are improving the integrated,

00:03:21

I would say the value proposition,

the products that our customers can have.

00:03:25

And I can tell you for sure,

our whole team is really excited.

00:03:29

As you know,

00:03:31

land transport constitutes 15% of

carbon emissions in Singapore today.

00:03:37

The good news is both Shell and Singapore

are seeking net zero emissions by 2050.

00:03:44

E-mobility is an important area for us.

00:03:48

Tell us more about what

we are doing in Singapore.

00:03:51

We are working with a variety of different partners

to make sure that we can grow.

00:03:55

Okay.

00:03:56

And of course, thrive in energy transition.

00:03:58

It's not easy, I'll be frank about it.

00:04:01

But we have very good partners,

especially in the likes of LTA,

00:04:05

our Land Transport Authority

that you just mentioned.

00:04:07

We are regularly working with them

to figure out: How do we evolve?

00:04:13

How do we change the ways of working?

00:04:14

How do we expand the facilities

that the electric vehicle owners

00:04:20

would like to have as we grow?

00:04:22

And it's been a journey, but it's been one that

we have been building from strength to strength

00:04:26

We, in Shell Mobility, can bring

so much more than just an electric charger.

00:04:32

We have the capabilities, first of all,

we understand the drivers.

00:04:36

We have been doing that for over 100 years.

00:04:38

So, they are our primary concern

and what we can bring to them,

00:04:42

besides electric charging, is of course our quality fuels

00:04:45

 that we still continue to develop and improve on.

00:04:49

Our convenience store offers are

one of the most comprehensive.

00:04:52

In fact, I know you love coffee.

00:04:54

So, the coffee that we have in the Shell Café

concept is newly launched this year

00:05:00

and you'll see more and more of that happening islandwide.

00:05:02

But really, why are we doing this and how are we able to do this?

00:05:07

It’s because our customers want an integrated offer.

00:05:10

This is really what excites me.

00:05:12

What you have shown in Singapore

and what we are doing across Asia

00:05:19

is that we want to be on the front foot,

00:05:22

be on the front pedal to make the change.

00:05:25

And it means something not just to us,

but also our customers and the fact

00:05:29

that we are building on our strengths,

playing to our strengths.

00:05:32

And I'm sure that with the capabilities

that we have built over the last

00:05:36

5 to 7 years, we will be poised

to take advantage of the new energy

00:05:42

requirements and the energy transition

in different countries.

00:05:45

So definitely when you look at

what we are doing in Mobility Asia,

00:05:49

we are readying ourselves for the

next phase in the next chapter of the growth.

00:05:53

Min Yih, I'm going to bring it closer to home,

00:05:56

and indeed I would say closer to our hearts as well.

00:05:59

We have announced the divestment of the

Energy and Chemicals Park in Singapore.

00:06:04

Can you share with us a bit of a reflection

on this and actually, to be more specific,

00:06:10

is this going to impact the Mobility business

in Singapore and are we here to stay?

00:06:14

We are certainly here to stay,

not just in Singapore but also in Asia.

00:06:19

But what is important is to look at how

00:06:22

we have actually strengthened and grown

00:06:26

in the Mobility business across the world.

00:06:29

We have done that without refineries.

00:06:32

And the fact of the matter

is, we are able to do so

00:06:36

by building on a very strong and robust

trading and supply business.

00:06:41

We also have very strong

marketing businesses

00:06:44

around the world that

we are able to tap on capabilities.

00:06:47

So to me, what is the

next chapter for Asia

00:06:52

and for Singapore

is really building on our world-class

00:06:56

trading and supply

and marketing businesses.

00:06:59

So long may this new adventure continue

00:07:02

and I look forward to us

enjoying this journey.

00:07:05

Min Yih, what is the one message that you

want to send to our team in Asia?

00:07:09

This is our moment,

00:07:12

fight or flight.

00:07:13

Let's fight for ourselves

and for the future.

00:07:16

At the end of the day,

we have the capabilities,

00:07:20

we have the competitive strength.

00:07:22

Remember one thing,

00:07:24

we play a long game and victory

belongs to the most tenacious,

00:07:29

if I may quote Roland Garros.

00:07:31

So let's all be world class

and take the next chapter for ourselves.

00:07:36

Thank you, Min Yih.

00:07:37

Indeed, this is the moment

that we are here and we are here to win.

00:07:40

Once again, thank you for your time.

00:07:41

You're welcome. Let's play to win.

00:07:43

Indeed.

00:07:54

We must remember that

we are the face of Shell in Mobility Asia,

00:07:59

but more importantly, we will and we still

00:08:01

are the downstream engine in Asia.

00:08:04

Perhaps one of the questions

that is on our mind,

00:08:08

I'm sure a lot of people

want to hear from you.

00:08:09

What gives you that confidence

00:08:11

to be so sure that we can

meet all the changes and grow?

00:08:17

It sounds like we are tackling

both B2C and B2B areas.

00:08:20

The B2B space is one that we are very strong in,

00:08:23

traditionally and we continue to get stronger in.

00:08:27

I mentioned about the Land Transport Authority.

00:08:30

We just won one of the big tenders that we have.

00:08:34

So, we will be laying out over

900 chargers in two different e-bus depots,

00:08:39

and I hope to have more to come.

00:08:40

On the B2B space, there is actually more things

that we are working on with different B2B partners.

00:08:45

They are also exploring.

00:08:47

When do I pick up electric charging?

00:08:49

What assurance do I have that

I can have quality offers for my drivers,

00:08:53

not just in terms of charging,

00:08:54

but in terms of maybe

a cup of coffee, drinks that they want?

00:08:57

And all this are work in progress.

00:09:17

The real question

that I want to start off with,

00:09:19

and maybe a simpler one, is

why is Singapore important?

00:09:20

and maybe a simpler one, is

why is Singapore important?

00:09:22

Hey Shiwen, thanks for having me here.

00:09:24

To me, even though I look at myself

as a global citizen

00:09:28

and having almost 11 years

of global experience,

00:09:32

to me working in Singapore,

returning to Singapore is almost natural.

00:09:37

When I spoke to my bosses about number one

returning to Singapore to continue

00:09:40

my global job, is actually killing

two birds with one stone.

00:09:45

I want to lead by example

by showing what cost leadership mean.

00:09:48

But more importantly, my

two boys have to serve national service.

00:09:52

So it is almost

00:09:54

expected or natural for me

to come back as a family.

00:10:11

What other tie-ups have we done so far?

00:10:14

Oh, we have lots of tie-ups.

00:10:15

When we talk about electric vehicle charging,

00:10:18

you're talking about companies, very prominent:

00:10:20

Hyundai, BYDs, BMWs,

00:10:25

just to name a few that we have

great collaborations with.

00:10:28

It is really to build assurance,

the awareness that yes, electric charging is,

00:10:34

there's an anxiety around

whether you can find it

00:10:37

but if you have your Shell and Shell

Recharge specifically,

00:10:40

you'll be okay and you get to

enjoy a cup of coffee along the way as well.

Title: Ernest Lee, Vice President HR Global Lubricants and North-east, SEA | Shell leaders in Singapore

Duration: 8:28 minutes

Description:

In this Shell Leaders in SG episode, Joshua Lim, Global Head of LNG Trading, speaks with Tom Summers, Senior Vice President, Shell LNG Marketing and Trading on the roles of Shell, Singapore and Asia in the LNG market and the energy transition

{insert title of video} Transcript

0:09

Hey, Ernest, great to have this chance to have a chat

0:12

outside of our regular work setting.

0:14

I think the one thing I wanted to really ask

0:16

is you have just come into a role as

0:18

Vice President, Human Resources

0:19

for Global Lubricants

0:20

and also taking care of parts of Asia,

0:23

that is quite a big change and massive as well.

0:26

How has it been?

0:27

It's an interesting journey really,

0:28

because you learn new things along the way

0:32

as you change roles.

0:33

So for my previous role, which was HR in Shell Energy,

0:37

I learned about the renewables business.

0:39

And then this new role, it's about the lubricants business,

0:42

a very mature business,

0:44

but it's also then taking care of the countries

0:47

in Northeast and Southeast Asia

0:50

which is a bit of a mix of a business

0:52

as well as geographic coverage.

0:54

Yeah, amazing.

0:55

I can so resonate with that.

0:57

The learning as well as excitement

0:59

that goes in a new role having come from

1:01

quite a different space in Leadership and Learning

1:04

in a global career, globally for Shell.

1:07

And then now looking at the country focus

1:09

for Singapore and Indonesia as HR Manager.

1:12

For me that stretch has been quite different as well.

1:15

I think you're just going in depth into a very different place.

1:18

But what I'm most actually,

1:19

you know, take a step back and reflect.

1:21

It's how that gives me the variety and the diversity

1:24

of opportunities that we get to have.

1:26

Fully agree to that.

1:27

I've been here a while

1:28

and I think the differentiator for me in terms of,

1:31

you know, the career that Shell offers,

1:34

it's really about the optionality that it gives.

1:37

And optionality here really is around scope of work.

1:41

It's around what you learn in a job,

1:44

but also around personal ownership

1:46

of what you want to grow in, where you want to grow in,

1:49

how you want to grow in.

1:50

It's also about the diversity,

1:52

the equity and the inclusiveness, right?

1:55

Of how we treat and we work with our people.

1:59

40% of our senior leaders are women.

2:02

I think on the Singapore front,

2:04

we were as well, one of the first companies

2:08

to actually proactively launch,

2:11

an extended parental leave scheme.

2:15

So that's another example, right,

2:16

of how we bring diversity, equity and inclusion

2:21

to life every day.

2:23

Yeah, so Ernest, I think it's when you speak,

2:26

it really gets me to think about,

2:28

you know, the overall organisational culture

2:30

that we're building as a result of that as well.

2:32

And that's really not something to be taken for granted.

2:34

It just doesn't happen like that.

2:36

And there has been,

2:37

quite a lot of considered effort

2:39

to actually build that learner mindset, right?

2:41

The sense of, you know, also the safe space for people

2:44

to speak up as well,

2:46

because what's the use of having diversity really

2:48

when people don't really have the space to,

2:50

or to find that they can share their views?

2:52

For me, I think what I've experienced so far in my time,

2:56

it's not only that we talk about our core values,

2:59

we truly believe and live the core values

3:02

and that's honesty, integrity, and respect.

3:05

Yeah, indeed.

3:06

I think, you know, just the values

3:09

is really one of the things that makes people

3:11

want to stay or come back.

3:13

And I think in the phase of the change

3:16

that we are going through with the new age of technology

3:19

and the new era of the geopolitical,

3:21

you know, uncertainties that's out there.

3:23

But I think the real litmus test,

3:25

of our core values and our culture

3:28

is not just what happens when times are good,

3:31

but actually when we're in a crisis.

3:34

I think back about the times through the pandemic

3:36

and one thing that really stood out for me

3:38

going through the time

3:39

was when I heard a strong clear message

3:42

from right at the top, leaders from the top, down

3:45

through the line

3:46

on the importance of prioritisation

3:49

and giving people that licence, I will say

3:51

to really focus on day-to-day delivery.

3:54

And I think it's really that,

3:55

you know, giving the empowerment,

3:57

the flexibility to people

3:59

to manage their time and energy

4:00

so that it can really optimally focus on

4:03

true delivery, right,

4:04

of outcomes that is really important

4:07

and that is the balance that I think

4:09

we are always striking to give both that sense of care

4:12

and also that focus on delivery, which we want.

4:15

You know, this recognition of us as a company.

4:20

It's not only I think what we do inside of Shell,

4:24

but it's also very much recognised outside of Shell,

4:26

at work with individuals,

4:28

but also with the environment and society around us,

4:31

which makes, you know, Shell

4:32

and the work at Shell really special.

4:34

One final question for you.

4:35

It's really, you know, what would be your words for people

4:39

who are considering to join Shell?

4:41

I would put in a few words

4:42

is the energy transition.

4:44

And I think the balance of energy availability,

4:48

energy security and energy sustainability

4:51

are the three parts right to energy transition

4:55

that any individual who chooses to join Shell

4:58

gets to play a part in.

5:00

We are in the space of working

5:04

how we actually deliver in these three areas

5:07

to the community, to society as Shell,

5:11

and find different pathways

5:12

where we can make all those three come together

5:16

for every country, every community,

5:22

and every individual that we work with and are a part of.

5:25

And that I think is huge.

5:28

I would say sometimes it can be challenging,

5:32

but if you think about it,

5:34

it's a huge opportunity to make a real difference

5:37

in this energy transition journey of the world.

5:41

What about you, Jane, what do you think?

5:43

I think really being part of a larger course, right?

5:47

With a wider, wide-ranging impact

5:50

to provide energy sustainably to the world,

5:53

that for me gives me meaning and purpose, right?

5:56

And then it's really the environment

5:59

that actually allows you

6:00

and actually almost pushes you to be a better self.

6:03

And the third piece is probably most important,

6:06

that's really the values, right?

6:08

I think being amongst people that really allows you

6:11

to live out the values that you hold dear to yourself.

6:14

Indeed, so thank you so much for the time, Ernest,

6:15

it's been great to have this chat.

6:17

Really was.

Title: Tom Summers, SVP LNG Marketing and Trading | Shell leaders in Singapore

Duration: 8:28 minutes

Description:

In this Shell Leaders in SG episode, Joshua Lim, Global Head of LNG Trading, speaks with Tom Summers, Senior Vice President, Shell LNG Marketing and Trading on the roles of Shell, Singapore and Asia in the LNG market and the energy transition.

{insert title of video} Transcript

0:12

Hi Tom, welcome to Singapore.

0:14

Let's talk about liquefied natural gas.

0:16

Can you elaborate on the role of LNG

0:18

in the energy transition?

0:19

Thanks, and it's great to be here, Josh.

0:22

Yeah, LNG plays a critical role in the energy transition.

0:25

We're seeing a growth in population,

0:27

we're seeing an increase in prosperity,

0:30

and with that, energy demand is growing,

0:32

and so we need to find ways to bring lower carbon fuels

0:35

to the energy markets.

0:37

And we need to also be able to have a balanced transition

0:41

through to net zero emissions.

0:43

So LNG does a great job in many places.

0:45

Firstly, displacing coal in industry

0:50

where it can really make a difference

0:51

in terms of efficiency and emissions.

0:54

Secondly, LNG and gas can displace coal

0:59

for power generation.

1:00

And so when used for power generation,

1:02

it's around 50% of the emissions of coal.

1:05

But it doesn't just stop there.

1:07

What we're seeing with our business,

1:09

particularly here in Singapore,

1:11

is LNG being used in other industry sectors as well.

1:14

And shipping is a great example.

1:16

We've been using LNG as a bunkering fuel now

1:19

for several years, and that's really taking off.

1:22

It delivers 23% less emissions

1:25

than very low sulphur fuel oil, for example.

1:27

And we're the number one LNG bunker supplier here in Singapore.

1:30

We recently completed our 200th bunkering activity,

1:34

and that's on the back of our 100th

1:36

only in October of last year, so really rapid growth.

1:40

So LNG for the energy transition

1:43

is an enabler in the very near term,

1:46

helps support reduction and reliance on coal,

1:49

help industries transition as well as power generation.

1:52

But it's also there to support the build out

1:55

and growth of renewables, which is critical

1:57

because gas provides great intermittency support

2:01

for power generation when renewables may not be running.

2:05

I've been in LNG for more than 10 years.

2:07

I think this is the most exciting,

2:09

but yet most competitive time in our industry.

2:12

However, I'm still optimistic about our product.

2:16

Do you share the same optimism?

2:18

I absolutely do,

2:19

and I've been in the industry for at least that time too,

2:24

and it has changed significantly.

2:26

And if I think back to when I first started in LNG

2:29

in the 2000s, I remember being in Qatar

2:33

where we were building the first mega trains for LNG

2:37

and that was the first real wave of supply

2:40

coming to the market in the modern era.

2:43

And we reached about 200 million tonnes in 2010.

2:47

And if you think of where the LNG industry came from,

2:49

today we're celebrating our 65th year in the industry

2:54

and that has come from, you know,

2:57

the first delivery into Canvey Island in the UK,

3:00

so over that time period to get to today.

3:03

And then from here in 2024,

3:07

we're now at 400 million tonnes.

3:09

So it's doubled again in a much shorter period of time.

3:12

And then the same volume coming online

3:14

that's under construction,

3:15

we should reach 600 million tonnes in and around 2030.

3:19

So that's a very significant growth for this industry

3:22

and that's what makes this exciting.

3:25

And for Shell, as our part in this industry,

3:28

we're seeking to grow.

3:29

We're growing by 20 to 30% from our 2022 levels

3:33

through to 2030.

3:35

And that includes somewhere between 15 to 25% in the LNG

3:40

that we purchase as well.

3:41

And so this year, we've had a few good examples

3:44

of our trajectory towards that target.

3:46

We've been working a lot on the acquisition

3:48

of Pavilion Energy within our team,

3:51

and that's adding around 6.5 million tonnes to the business

3:55

once it's been through its regulatory completion.

3:58

It's really complementary to our portfolio

4:01

and particular focus here in Asia with a business

4:04

that's been built over the last 10 years.

4:06

Elsewhere, Shell's joined the Ruwais Project in Abu Dhabi

4:11

and we've taken FID (Final Investment Decision) on the Manatee field

4:13

in Trinidad and Tobago.

4:15

And so those are two really great examples

4:17

from the other part of our integrated gas business

4:20

where we can see our pathway towards that growth.

4:23

You mentioned Pavilion Energy.

4:25

Let's talk about Singapore.

4:27

Natural gas remain the dominant fuel choice for Singapore

4:30

for the foreseeable future.

4:32

LNG is reliable, dependable,

4:35

and lower in emissions to help our energy transition.

4:38

Can you elaborate on the role of Singapore

4:40

as an LNG marketing and trading hub?

4:43

Yes, Singapore's been a really important part

4:46

of our business and for the broader trading

4:48

and supply organisation.

4:49

We have many teams here

4:51

who are helping to manage supply across the region.

4:55

For Singapore itself,

4:57

the LNG business has been now over 10 years in existence

5:02

and I can remember our first cargo delivery back in 2013.

5:07

Since then, we've been delivering reliably

5:09

through what's been, in many cases, a tumultuous time.

5:13

We've seen many market volatilities,

5:16

such things as the COVID-19 pandemic,

5:19

and more recently,

5:20

disruption caused by the Russia-Ukraine conflict.

5:24

But all through this time,

5:26

we've continued to deliver LNG reliably

5:29

so that energy security for Singapore

5:32

is front of mind for us and for all.

5:35

Singapore is in Southeast Asia,

5:37

a key market of growth for LNG for decades to come.

5:40

What greater role can we play?

5:42

Yeah, so the demand growth that we talked about earlier,

5:45

going from the 400 million tonnes today

5:47

to around 650 million tonnes by 2040,

5:51

a very significant part of that comes from Asia.

5:55

And in particular, if we look across India, China,

5:58

and Southeast Asia,

6:00

it accounts for around 78% of that growth.

6:03

So for us here in Singapore,

6:05

the role of LNG in enabling those economies

6:07

and those communities to increase,

6:11

but also to reduce their reliance

6:13

on higher emitting hydrocarbons such as coal,

6:18

is a really important role that we can contribute to.

6:21

Last year, you and the team delivered three firsts,

6:24

which were first cargoes to Philippines,

6:28

where we sold to one of our counterparties

6:31

into a terminal there,

6:33

working together with our Shell Energy team on the ground.

6:36

We also delivered our first cargo

6:38

to Hong Kong back in July last year,

6:40

which is a fantastic achievement and marks the start

6:43

of a long-term relationship for us there.

6:45

And then finally, we delivered the first cargo into Vietnam

6:50

for the commissioning of the terminal there.

6:52

So these seem very simple first steps,

6:55

but there's a lot of work

6:56

that goes into getting to that point

6:58

both, of course, with the counterparty and the terminal,

7:01

but within our team getting ready

7:03

to deliver safely and on time.

7:05

Yes.

7:06

More broadly than that then within Asia,

7:09

we're continuing to focus our efforts on growth

7:12

and capturing that customer demand that we see

7:15

working with counterparties here and also with our suppliers

7:18

and to deliver reliably and affordably to enable that growth

7:22

and that reduction in reliance on coal

7:24

for power and for industry.

7:26

Okay Tom, to inject a bit of fun

7:29

in this serious topic of LNG,

7:31

the team has asked me to pose

7:32

a few rapid fire questions for you.

7:35

Okay.

7:35

Are you ready for the challenge?

7:36

Yeah, let's go.

7:38

Do you like your drink hot or cold?

7:40

It's gotta be hot cup of tea

7:42

first thing in the morning to get me going.

7:44

What's your favourite work destination?

7:46

Well, I love Singapore,

7:48

but beyond that, I'd probably say Santiago in Chile,

7:51

somewhere where we've been delivering LNG

7:53

since the late 2000s,

7:55

and I've had the privilege to visit several times.

7:57

Describe LNG in three words.

7:59

Enabling,

8:00

reliable,

8:02

and affordable.

8:03

If LNG is a superhero, which character would that be?

8:07

I’d go for Jack Frost.

8:09

A super cool

8:10

superhero,

8:11

and

8:11

he had a habit of turning up

8:13

where he was needed, when he was needed

8:15

the most, just like our LNG business,

8:17

that’s what we try to do.

8:19

Thank you very much for speaking to us.

8:20

Thanks so much for having me here.

8:21

It’s been great to be here.

Title: Doris Tan, Head of Shell Aviation, APAC and ME | Shell leaders in Singapore

Duration: 7:14 minutes

Description:

How is Shell contributing to Singapore and its community? For this Shell leaders series, we discuss energy hot topics relevant to the region with leaders based in or visiting here. In this video, Han Wee, Sustainability Lead, Shell Aviation, Asia Pacific & Middle East, speaks with Doris Tan, Head of Shell Aviation, Asia Pacific & Middle East, on the importance of Sustainable Aviation Fuel (SAF) and the steps needed for a decarbonised aviation sector in Singapore.

{insert title of video} Transcript

0:11

Hello, everyone, and welcome.

0:13

Today, I'm here with Doris Tan,

0:16

Head of Shell Aviation,

0:17

Asia Pacific and Middle East.

0:19

Thank you for taking the time

0:20

to speak to us today Doris.

0:21

Hi, Han Wee, happy to be here.

0:23

You know, when people think about Shell,

0:26

aviation doesn't come to mind immediately.

0:28

Can you tell me a little bit more

0:29

about what we do in aviation in Shell?

What is Shell Aviation

0:31

Yes, you're right, Han Wee.

0:32

The first association people have with us

0:35

is probably with our mobility business

0:37

due to the visibility of our service station network.

0:40

But in reality,

0:41

we are known for providing quality fuel

0:43

throughout the history of Shell.

0:45

It is as much about keeping planes in the sky

0:47

as much as fueling vehicles on the ground.

0:49

For over 100 years, Shell has been powering flights,

0:53

supplying jet fuel to aviation's pioneers for generations.

0:57

In 1909, we were there to supply fuel

1:00

to Louis Bleriot's first flight across the English channel.

1:03

In the 1930s,

1:04

we were also there to set up the refuelling network

1:07

for the first flights out of Europe to Singapore.

1:10

Fast forward to today,

1:11

we have built an extensive global network

1:14

that covers key airports across the world.

1:16

Doris, you talk about global,

1:17

what about aviation in Singapore?

Aviation in Singapore

1:20

Han Wee, you know I'm a Singaporean,

1:22

so Singapore has a very special place in my heart.

1:24

It is a wonderful place

1:25

and of great importance to Shell Aviation

1:28

as a key hub in the Asia Pacific region.

1:30

What I'm most pleased about is what we are doing

1:33

to push forward the future of aviation

1:35

at Changi International Airport.

1:37

In 2022, we upgraded our facility here in Singapore

1:40

to enable the blending of Sustainable Aviation Fuel, SAF,

1:44

so we became the first jet supplier

1:46

to supply sustainable aviation fuel right here in Singapore,

1:50

helping our customers decarbonise

1:51

when they depart from this country.

1:53

Our SAF footprint in Asia Pacific and Middle East

1:56

has also expanded to Hong Kong International Airport

1:59

and most recently to Dubai International Airport.

2:01

And right here in Singapore,

2:03

we also work with our traders to create opportunities

2:06

to source from a wide range of suppliers

2:09

and deliver to our customers worldwide.

2:11

Our capabilities as a blender, trader, transporter

2:15

together with our innovation and marketing expertise

2:18

is what we seek as a leverage to continue to deliver fuels

2:21

and lubricants to our customers here.

2:23

This will put us in a very unique position

2:25

to help meet the challenge of the energy reality.

2:28

Let's talk a little bit about the energy transition.

2:31

How is this a challenge here?

2:33

What is the state of sustainability in aviation right now?

State of Sustainability

2:36

Oh, Han Wee, I don't have to tell you how difficult it is

2:38

to decarbonise the aviation sector.

2:40

It is one of the key challenges for the industry.

2:42

Aviation plays a vital role in connecting people

2:45

and transporting medicines and other goods around the world.

2:48

Currently, it is accounting for about 3% of global emissions

2:53

according to IATA (International Air Transport Association) data,

2:54

but this could rise to 22%

2:56

if nothing is done about it by 2050.

2:59

From what I've seen so far, the industry must and can meet

3:03

the long-term aspirations of

3:05

ICAO's (International Civil Aviation Organization) net zero by 2050.

3:07

Doris, what are some of the solutions

3:09

available to us to meet this goal?

Solutions

3:11

There are various options available to us today

3:14

and into the future to help our customers avoid, reduce,

3:17

and compensate their emissions.

3:19

In the long term,

3:20

electric and hydrogen-powered aircraft

3:22

have the potential to be used in smaller aircraft

3:26

for short and medium haul flights,

3:28

but it takes time to develop.

3:30

Right now, SAF is the only viable in-sector scalable option

3:35

that we have to materially reduce emissions from flying

3:38

in a 2050 timeframe.

3:40

As such, carbon credits or offsets

3:43

have an immediate role to play

3:45

during the time it takes to develop

3:47

and scale up other ways to decarbonise the sector.

3:50

SAF is undeniably part of the solution.

3:52

Why isn't SAF used in every place today?

3:54

What are some of the challenges with regards to SAF?

Challenges

3:57

At the moment, SAF only accounts

3:58

for a very small proportion of the global jet fuel supply,

4:01

only 0.2% in 2023,

4:04

and this is because the market is yet to mature

4:07

and there's still complexities in its supply chain.

4:10

Oh, Doris, this sounds like a chicken and egg problem.

4:12

High cost keeping demand low.

4:14

To bring down costs, supply needs to go up,

4:16

but supply can only increase when there's more demand.

4:19

Exactly right, Han Wee, so to overcome the price premium,

4:23

everyone in the aviation value chain

4:25

needs to come together to collaborate,

4:27

and that is from the airlines to the fuel suppliers,

4:28

and that is from the airlines to the fuel suppliers,

4:30

to the OEMs (Original Equipment Manufacturer),

4:31

to the policymakers.

4:32

Alongside others in the sector,

4:35

Shell is advocating for governments around the world

4:38

and at ICAO (International Civil Aviation Organization)

4:39

to enable the increase in SAF use

4:41

through globally aligned regulations.

4:44

Doris, you mentioned policymakers.

4:46

What can governments do?

Policy

4:48

With effective policy framework in place,

4:50

we can drive up the demand of SAF as a solution

4:53

to materially reduce emissions from flying.

4:56

For instance, right here in Singapore,

4:59

the Singapore government is introducing a SAF levy

5:02

for flights departing Singapore from 2026.

5:05

This levy is initially set to target

5:08

1% of total aviation fuel used in Singapore,

5:11

and it will increase to between 3% and 5% by 2030.

5:16

That is a great example of governments

5:18

giving guidance early and clearly.

5:20

Similar to the mandates in Europe.

5:22

I must emphasise that for mandates to be effective,

5:25

it should be introduced alongside with incentives.

5:27

We want the policy to both provide a carrot and a stick.

5:31

I completely agree.

5:33

Guidance from policymakers is absolutely important,

5:36

but let us not forget about voluntary demand.

5:38

Can you give me an example of what Shell is doing

5:41

to scale demand and supply?

5:43

Yes, of course.

5:44

We've been doing a range of things

5:45

to scale up the demand and supply of SAF.

5:47

For example, in 2022,

5:50

alongside Accenture and AMEX GBT,

5:52

we launched our book and claim platform Avelia.

5:56

Avelia allows airlines and corporate customers

5:59

seeking to use SAF in their air transportation needs

6:02

to contribute towards the SAF premium

6:05

and collectively claim their respective

6:07

Scope 1 and 3 environmental benefits respectively.

6:11

This is possible even if SAF is not available

6:14

in their departure airports.

6:15

Sounds like book and claim is indeed a solution

6:17

for airlines as well as their aviation customers,

6:21

be it corporate travellers or air cargo players.

6:24

Yes, the response from customers

6:26

have been very encouraging.

6:27

So far, we have signed over 30 agreements

6:30

with customers from various sectors.

6:32

Under these agreements,

6:34

Shell Aviation has already injected

6:35

10 million gallons of SAF

6:37

into the existing global fuel network

6:40

at airports around the world.

6:41

All in all, I'm really happy with what we've achieved

6:44

with our forward-looking customers thus far,

6:46

and I'm excited about what we can do as an industry

6:50

through the portfolio of our decarbonisation solutions.

6:53

Let's collaborate and work towards aviation ambition

6:56

of net zero by 2050.

6:58

Doris, as usual, thank you so much for your time

7:02

and sharing these valuable insights with us

7:04

on aviation in Singapore as well as globally.

7:06

Thank you.

Title: Karrie Trauth, SVP Shipping & Maritime | Shell leaders in Singapore

Duration: 4:18 minutes

Description:

How is Shell contributing to Singapore and its community? For this Shell leaders series, we discuss energy hot topics relevant to the region with leaders based in or visiting here. In this video, Lee Teng Haur, General Manager of Maritime Operations for Asia Pacific and Middle East, speaks with Karrie Trauth, Senior Vice President of Shipping and Maritime, on the importance of attracting talent, ensuring safety at sea and decarbonising shipping in Singapore.

{insert title of video} Transcript

0:11

Hi, Karrie. Welcome to Singapore.

0:14

Thanks.

0:15

We know that you're in town

0:16

for the flagship Singapore Maritime Week

0:18

and you delivered a keynote at the shipping forum.

0:21

Can you share with us

0:22

why Singapore is an important maritime hub for Shell?

0:25

Singapore is the world's number one maritime city,

Why Singapore is an important Maritime hub

0:30

and Singapore Maritime Week is the Singapore celebration

0:33

of everything that is shipping and maritime.

0:35

This week's been particularly important for me

0:38

as we watch the leaders

0:39

of the shipping industry come together

0:41

from all around the globe,

0:43

recognising the importance, to the world industry,

0:45

of Singapore as a maritime hub,

0:47

where Shell has a position selling LNG as a bunker fuel,

0:51

as well as traditional bunker fuels

0:54

and lubricants and the other things

0:55

that are required to make ships work.

0:58

We know that shipping is one

0:59

of the hard-to-abate sectors challenging decarbonisation.

1:02

What do you think we can do more about it?

What Shell can do more about it

1:04

There is no easy solution

1:05

because, today, shipping uses the most energy-dense fuels

1:09

that are available.

1:10

But when you think about what we can do

1:11

and actually what we're doing here at Shell

1:13

is really threefold.

1:14

There's energy efficient technologies.

1:16

This is everything from designing a better ship,

1:19

the hull form and air lubrication carpet

1:22

that goes underneath the ship,

1:23

to wind rotors and wind sails

1:27

and other engineering technologies.

1:30

The second thing we can do is operational efficiencies.

1:33

So when you think about the operation of a ship

1:35

as it does its global trade,

1:37

there's significant efficiency gains to be made

1:40

as we approach ports, as we do our cargo operations,

1:44

making sure that things are just in time

1:46

and moving smoothly.

1:47

And the third thing that we can do today

1:49

is around fuel choices.

1:51

So, today, the only lower carbon fuel

1:54

that's available at scale globally

1:56

is liquefied natural gas

1:58

and also some degree of biofuels, biodiesel,

2:01

coming into the market.

2:03

Karrie, we continue to see on the headlines

2:05

the risk that seafarers face each and every day.

2:10

It is a stark and timely reminder

2:12

on the enduring value of safety

2:16

and managing risks.

2:17

Can you share some insights on that?

Risk management

2:20

When I think about risk management,

2:22

I think about what we can do in terms of human factors,

2:25

I think about what we can do in terms of the design

2:28

and the operation of our vessels,

2:30

and I think about what we can do as a charterer

2:33

and an operator of ships

2:35

in terms of how we work with the shipping companies

2:38

and how we work with the ships

2:39

to really make the best environment

2:43

for the safety of the women and men who go to sea.

2:46

Finally, we'd like to end on the theme of people.

2:48

We hear the paramount role that seafarers play,

2:51

and it will only increase into the future.

2:53

What are your thoughts

2:54

on how we can attract more people to this industry?

Attracting more people

2:59

I began my career in the US Navy,

3:01

and I was one of the first group of women

3:03

to serve on combat ships at sea in the Navy

3:06

after the US changed its combat exclusion law.

3:09

And I think I've told you this story before,

3:12

when I joined my first ship,

3:15

there were 3,000 people on board that ship

3:18

and only 12 women.

3:19

But I'll tell you,

3:20

those nights standing watch on the bridge,

3:22

watching the sunrise in the morning,

3:25

knowing that we're pulling into a foreign port

3:27

in a couple of days,

3:28

getting to see the world was quite an experience

3:32

for a 21-year-old as I first came out of university

3:36

and got my career started going to sea in the US Navy.

3:39

There's something we need to do to change this,

3:42

to both make the industry interesting

3:45

and appealing and attractive

3:46

to a broader segment of society,

3:49

but particularly to women,

3:51

if we want to really pull on the global population.

3:55

Thank you, Karrie.

3:56

That was so exciting to hear your personal story.

3:59

Thank you today for sharing your insights

4:01

and the call to action for more diversity and inclusiveness

4:05

so that we can be a more dynamic and confident organisation.

4:09

We look forward to welcoming you back to Singapore.

4:11

Fantastic. Thank you, Teng Huar.

English

Title: Anna Mascolo, EVP Low Carbon Solutions | Shell leaders in Singapore

Duration: 6:07 minutes

Description:

How is Shell contributing to Singapore and its community? For this Shell leaders series, we discuss energy hot topics relevant to the region with leaders based in or visiting here. In this video, Anna Mascolo, EVP of Low Carbon Solutions meets Yu Li P’ing, GM of Integrated Supply Chain & Projects, to discuss the importance of a steady progression towards renewable energy.

{insert title of video} Transcript

0:10

Hello, Anna, welcome to Singapore.

0:12

Thank you, Liping.

0:13

Let's talk about the energy transition.

0:16

Today, we're seeing a new form of transition.

0:19

Why is that?

0:20

Well, I think we have been transitioning

0:23

from different forms

0:25

of energy also in the past.

0:27

You can argue we are still transitioning away

0:29

from coal at the moment.

0:31

I think what is different this time is that our time

0:35

for transition is much compressed.

0:37

If we want to be net-zero by 2050,

0:40

we really have to make many things happen.

0:43

And this is a very complex transition

0:45

because the energy system of today is huge,

0:50

and we need to make it a balanced transition,

0:53

making sure we move away from the current energy system

0:56

to the future one in a balanced way,

0:58

in a way which is affordable

1:00

and in a way also that is ensuring security of supply.

1:03

What would you say is the current energy challenge

1:06

here in Asia?

1:08

Half of the population in the world sits in Asia.

1:11

We see growing demand.

1:13

And that is probably an opportunity for us to work

1:17

with our customers, with government and society,

1:20

to move into a lower carbon future.

1:23

And if you're thinking about different modes of transport,

1:26

so what we call the hard-to-decarbonise sectors

1:29

like aviation and shipping,

1:32

we are already working here in Asia

1:33

with our customers to decarbonise them

1:35

and to help move towards a lower carbon future.

1:39

So looking ahead, Anna, what is Shell's approach here

1:44

for the energy transition in Asia?

1:46

Well, it's not different

1:47

from how we approach energy transition anywhere else.

1:50

We have a target of reaching 50% (Scope 1-2) reduction by 2030.

1:55

We are already at 60% of the target, so we are doing well.

2:00

We have also looked into eliminating routine flaring,

2:04

lowering the methane emissions close to zero.

2:09

We are tackling this as a company in Shell,

2:15

we have taken the approach of working with our customers,

2:18

with governments and regulators to drive the transition forward.

2:23

It's about playing to our strengths,

2:24

making sure we make choices around where we can step in

2:27

and help our customers decarbonise.

2:29

And that really means working

2:32

on selling more renewable power,

2:37

looking at low-carbon solutions like biofuel or bio-gases.

2:42

And last but not least,

2:44

we do know that if we want to meet net-zero by 2050,

2:49

we will need also carbon abatement

2:51

and carbon removal solutions.

2:53

These are available today like carbon credits

2:57

and to a certain extent, carbon capture and storage.

2:59

And we will see carbon capture and storage grow over time,

3:03

but also we will see solutions like direct air capture.

3:06

So Anna, how do we win in Singapore?

3:09

So, we want to build on the existing network we have

3:12

of customers that we have, for example

3:14

in LNG business

3:16

or the relationships we have for hard-to-abate sectors

3:19

like aviation and shipping,

3:21

or industries like petrochemicals, steel, cement,

3:26

where we do see we need carbon removal solutions

3:29

like carbon capture and storage to help them decarbonise.

3:32

So recently, we signed an MoU

3:34

with ExxonMobil to develop a cross-border carbon capture

3:38

and storage project here in Singapore.

3:40

When you look at the regulatory environment here, Anna,

3:44

are you seeing it emerging

3:46

and moving towards what will be helpful for us

3:48

to develop carbon capture

3:50

and storage projects

3:51

as well as other decarbonisation solutions here in Asia?

3:54

We are not a stranger to carbon capture and storage.

3:57

We already today have stored 10 million tonnes of carbon

4:02

in other projects we have globally.

4:05

So, developing carbon capture and storage here in the region

4:08

in Southeast Asia is probably a logical step.

4:13

A logical step because we see that there is a real opportunity

4:17

to connect the storage facility with demand in Southeast Asia.

4:25

And we will build on that experience

4:27

and really look at Southeast Asia as a hub

4:32

for capturing the emissions

4:34

from our customers from different countries

4:37

and working with governments

4:38

like the Singapore government here,

4:40

and then storing these emissions

4:43

for a very, very long time

4:45

With the cross-border nature of the project,

4:47

what about the other governments in the region as well,

4:50

when it comes to carbon capture and storage?

4:51

Because it's cross-border,

4:53

it will require a number of governments

4:58

to also come together to understand what are the rules of the game

5:04

for this new industry that is being created.

5:06

So, probably these projects are not the easiest ones

5:10

to develop, but at the same time,

5:12

we must go ahead and do so.

5:14

So Anna, you're clearly

5:15

very passionate about decarbonisation.

5:18

Tell me what is your personal commitment to decarbonisation?

5:21

What drives you?

5:22

This matters to me.

5:24

It matters to Shell.

5:25

It matters to our customers.

5:27

It matters to society.

5:29

And we want to make sure that we are successful

5:32

into that net-zero target and trajectory.

5:35

If we work together,

5:38

companies, customers, governments, society, consumers,

5:42

we can make it happen.

5:44

Absolutely inspiring, Anna.

5:45

Thank you so much for your time.

5:47

Thank you, Liping.