{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","text":"\u003Cp\u003EShell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. The transaction will transfer all of Shell’s interest in Shell Energy and Chemicals Park Singapore to CAPGC.\u003C/p\u003E\r\n","links":[{"name":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","value":"https://www.shell.com.sg/about-us/news-and-insights/media/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html"}],"date":"2024-05-08T17:01:00Z","tags":[{"name":"Media & Journalists","value":"audience:media-journalists"}]},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://www.shell.com.sg/about-us/_jcr_content/root/header/inherited.model.json","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://www.shell.com.sg/"},{"name":"About us","value":"https://www.shell.com.sg/about-us.html"},{"name":"News & Insights","value":"https://www.shell.com.sg/about-us/news-and-insights.html"},{"name":"Media releases","value":"https://www.shell.com.sg/about-us/news-and-insights/media.html"},{"name":"2024 Media Releases","value":"https://www.shell.com.sg/about-us/news-and-insights/media/2024-media-releases.html"},{"name":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","value":"https://www.shell.com.sg/about-us/news-and-insights/media/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html"}]},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader.Date","color":"inherited","model":{"title":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","text":"\u003Cp\u003EShell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. The transaction will transfer all of Shell’s interest in Shell Energy and Chemicals Park Singapore to CAPGC.\u003C/p\u003E\r\n","date":"2024-05-08T17:01:00Z"},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section/page_header"},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section/text","model":{"text":"\u003Cp\u003E“This agreement marks a significant step in Shell’s ongoing efforts to high-grade our Chemicals and Products business, and is a testament to our commitment to deliver more value with less emissions, as outlined at our Capital Markets Day last year.” said Huibert Vigeveno, Shell’s Downstream, Renewable and Energy Solutions Director. “We are proud of our history at Bukom and Jurong Island and our contributions to the economic growth of Singapore in this sector in the past decades. Our commitment to Singapore remains steadfast and its importance as a regional hub for our marketing and trading business remains important. As Singapore continues to decarbonise, Shell looks forward to a continued partnership with the country, and with our customers in the region.”\u003C/p\u003E\r\n\u003Cp\u003EShell ran a competitive bid process to reach this milestone. Staff in Shell Energy and Chemicals Park Singapore will continue their employment with CAPGC under the new ownership, providing continuity for staff and contributing to ongoing operational reliability and safety.\u003C/p\u003E\r\n\u003Cp\u003ESubject to regulatory approval, the transaction is expected to complete by the end of 2024.\u003C/p\u003E\r\n"}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section/text_801777377","model":{"title":"Notes to editors","text":"\u003Cul\u003E\r\n\u003Cli\u003EThe Shell Energy and Chemicals Park Singapore comprises its integrated refining and chemicals assets on Pulau Bukom and Jurong Island.\u003C/li\u003E\r\n\u003Cli\u003EThe Pulau Bukom assets include a 237,000 barrels-per-day refinery and a 1.1 million tonnes-a-year ethylene cracker. It was Singapore’s first refinery in 1961.\u003C/li\u003E\r\n\u003Cli\u003EShell Jurong Island occupies more than 60 hectares on Jurong Island, and manufactures petrochemicals including ethylene oxide, ethoxylates, styrene monomer and propylene oxide. It is Shell’s largest petrochemical production and export center in the Asia Pacific region.\u003C/li\u003E\r\n\u003Cli\u003EShell is selling 100% of its interests in its Energy and Chemicals Park in Singapore, including the physical assets and commercial contracts.\u003C/li\u003E\r\n\u003Cli\u003EAs announced on its Capital Markets Day in June 2023, Shell had initiated a strategic review of its Energy and Chemicals Park assets on Bukom and Jurong Island in Singapore. This review is in response to the ongoing high-grading of Shell Group’s Chemicals and Products portfolio, changing market conditions and enhanced capital discipline. Following the strategic review, divestment has been the priority focus.\u003C/li\u003E\r\n\u003Cli\u003EFollowing completion, all employees providing dedicated support to the Shell Energy and Chemicals Park Singapore will retain their employment with CAPGC.\u003C/li\u003E\r\n\u003Cli\u003EShell and CAPGC have also signed crude supply and products offtake agreements that will come into effect following completion.\u003C/li\u003E\r\n\u003Cli\u003ESingapore’s position as a trading and marketing hub to serve Shell’s customers in the region remains important.\u003C/li\u003E\r\n\u003Cli\u003EShell continues to support Singapore’s energy needs through Liquefied Natural Gas supply and trading. Shell is also investing in electric vehicle charging infrastructure in the country.\u003C/li\u003E\r\n\u003Cli\u003EIn March 2024, the Singapore government announced their partnership with a consortium formed by Shell and ExxonMobil to study the feasibility of a cross-border carbon capture and storage project.\u003C/li\u003E\r\n\u003Cli\u003ECAPGC Pte. Ltd. (“CAPGC”) is a joint venture that is majority-owned and operated by Chandra Asri Group and minority-owned by Glencore through their respective subsidiary companies. Chandra Asri is Indonesia’s leading chemical and infrastructure solutions company, supplying products and services to various manufacturing industries in both domestic and international markets. Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life.\u003C/li\u003E\r\n\u003C/ul\u003E\r\n"}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section/text_3435513","model":{"title":"Enquiries","text":"\u003Cp\u003E\u003Cb\u003EUK / International Media Relations:\u003C/b\u003E +44 20 7934 5550\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EAsia Pacific Media Relations:\u003C/b\u003E \u003Ca href=\"mailto:apac-media@shell.com\" target=\"_self\"\u003Eapac-media@shell.com\u003C/a\u003E\u003C/p\u003E\r\n"}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section/text_2015162492","model":{"title":"Cautionary note","text":"\u003Cp\u003EThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The term “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward-Looking Statements\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, regional conflicts, such as the Russia-Ukraine war, and a significant cybersecurity breach; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2023 (available at \u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\" target=\"_self\"\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/a\u003E and \u003Ca href=\"https://www.sec.gov/\" target=\"_blank\"\u003Ewww.sec.gov\u003C/a\u003E). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, \u003Cb\u003EMay 8, 2024\u003C/b\u003E. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net carbon intensity\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EAlso, in this announcement we may refer to Shell’s “Net Carbon Intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “Net Carbon Intensity” or NCI are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net-Zero Emissions Target\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EShell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target, as this target is currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward Looking Non-GAAP measures\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis announcement may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.\u003C/p\u003E\r\n\u003Cp\u003EThe contents of websites referred to in this announcement do not form part of this announcement.\u003C/p\u003E\r\n\u003Cp\u003EWe may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website \u003Ca href=\"https://www.sec.gov/\" target=\"_blank\"\u003Ewww.sec.gov.\u003C/a\u003E\u003C/p\u003E\r\n"}}],"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main/section","model":{}}],"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/main","model":{}},{"organism":"Container.Footer","children":[{"organism":"Breadcrumb.Large","model":{"links":[{"name":"Home","value":"https://www.shell.com.sg/"},{"name":"About us","value":"https://www.shell.com.sg/about-us.html"},{"name":"News & Insights","value":"https://www.shell.com.sg/about-us/news-and-insights.html"},{"name":"Media releases","value":"https://www.shell.com.sg/about-us/news-and-insights/media.html"},{"name":"2024 Media Releases","value":"https://www.shell.com.sg/about-us/news-and-insights/media/2024-media-releases.html"},{"name":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","value":"https://www.shell.com.sg/about-us/news-and-insights/media/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html"}]},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/footer/breadcrumb"},{"organism":"Container.Raw","ref":"https://www.shell.com.sg/about-us/_jcr_content/root/footer/inherited.model.json","id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/footer/inherited","model":{}}],"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content/root/footer","model":{}}],"id":"/conf/shell/settings/wcm/templates/base/structure/jcr_content/root","model":{}}],"model":{"title":"Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC","text":"Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. 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Accordingly, neither Shell plc nor any member of the Shell Group endorses, adopts, certifies or otherwise validates the information and material contained on the linked website. This includes its sponsor and any policies, activities or services offered on the site, by any advertiser on the site or linked to the site.\r\n\r\nThank you for visiting the Shell website."},{"name":"themeMode"},{"name":"lastModified","value":"2025-03-04T10:43:51.851Z"},{"name":"themeName","value":"base"},{"name":"themePath","value":"/etc.clientlibs/amidala/clientlibs/theme-base"},{"name":"themeCss","value":"/etc.clientlibs/amidala/clientlibs/theme-base.ACSHASHb291465fc8d3c7bcefde74d34044b698.css"}],"tags":[{"name":"Media & Journalists","value":"audience:media-journalists"}]},"id":"/content/shell/countries/singapore/en_sg/about-us/news-and-insights/media-releases/2024-media-releases/shell-to-sell-interest-in-singapore-energy-and-chemical-park/jcr_content"}