Technology, innovation and partnership are “critical for a cleaner energy future”
Oct 30, 2014
Shell today hosted the Shell Innovation Open House Asia, an associated event of Singapore International Energy Week (SIEW). This is the first time that the event has been held in Singapore, after successful runs in Malaysia, Mexico, China, Russia, Brazil, USA, the Netherlands and India, among other countries.
With the theme of “Getting It Right for Asia”, the one-day conference brought together over 150 Singapore, regional and global leaders and experts to discuss technology, innovation and partnership. They also discussed energy security, and how to provide cleaner energy for the region’s growing cities.
“Technology, innovation and partnership are critical for a cleaner energy future,” said De la Rey Venter, Shell Executive Vice President for Joint Ventures, in his opening address at the event.
“At Shell, we believe natural gas should play an essential role in the future energy mix because it is abundant, cleaner than any other hydrocarbon, cost-effective, and is versatile.”
The world’s energy needs are growing at a fast rate, especially in Asia where energy demand is increasing because of population growth, economic development and urbanisation. Today, Asia consumes one-third of the world’s energy, and this is expected to increase to more than half by 2035. Asia will need a mix of energy sources to meet rising demand, with a focus on secure, cost-effective and cleaner energy that can help combat climate change and urban air pollution – major challenges for the Asia region.
“We see the challenges ahead as opportunities,” Mr Venter added. “Collaboration and discussions like today can act as springboard for a cleaner future centred on cleaner-burning natural gas and renewables, and one defined by – and infused with – innovation.”
During the Shell Innovation Open House Asia, Shell brought together participants from industry and government to discuss how achieving energy security will require a variety of solutions unique to national circumstances. In another dialogue, panelists discussed how rising demand for energy and concerns over climate change are the two most powerful influences shaping the energy system, and therefore the energy industry. Participants also looked at the factors Asia city planners and policymakers need to consider in order to meet the growing energy demand in cities.
Floating liquefied natural gas (FLNG) is a game-changer for the gas industry. At the Shell Innovation Open House Asia, Shell showcased how Prelude, the world’s biggest floating offshore facility, is a key project that allows the development of offshore gas fields without costly undersea pipelines or onshore facilities.
Making its Asia debut at the Shell Innovation Open House Asia was the Shell V-Power Oculus Rift Experience, which uses breakthrough technology to take users on an exciting 3D journey inside an engine. With the help of the latest in virtual reality hardware, the Shell V-Power Oculus Rift Experience offers users the unique opportunity to journey inside an engine as a droplet of Shell V-Power, travelling from the pump, through the harsh conditions inside a petrol engine. The special 3D headsets create a fully immersive environment where images move as the user’s head position changes for a full 360-degree experience inside the engine of an everyday family car.
For more info on Shell’s innovations: download the INSIDE ENERGY app for iPad or visit www.shell.com/innovation.
Head, Asia-Pacific Media Relations
Shell Spokesperson, Asia-Pacific
Shell Spokesperson, Asia-Pacific
Notes to Editors:
- Shell has been a technology pioneer for more than 100 years and has come up with many industry-transforming “firsts”. From building the first oil tanker deemed safe enough to navigate the Suez Canal to investing in the world’s first floating liquefied natural gas (FLNG) project, Shell has continued to find innovative ways to deliver energy its customers and partners need.
- Shell champions open innovation and works together with partners inside and outside of the energy industry to share knowledge, generate new ideas and accelerate their development and deployment.
- Since 2007, Shell has spent more than $1 billion annually on research and development. In 2013, our research and development expenditures were $1.3 billion – more than any other international oil company (IOC). Shell’s technical and engineering staff amount to more than 43,000.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this announcement "Shell", "Shell Group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. "Subsidiaries", "Shell subsidiaries" and "Shell companies" as used in this announcement refer to companies in which Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as "associated companies" or "associates" and companies in which Shell has joint control are referred to as "jointly controlled entities". In this announcement, associates and jointly controlled entities are also referred to as "equity-accounted investments". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This announcement contains forward looking statements concerning the financial condition, results of operations and businesses of Shell and the Shell Group. 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 and the Shell Group 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 "anticipate", "believe", "could", "estimate", "expect", "goals", "intend", "may", "objectives", "outlook", "plan", "probably", "project", "risks", "seek", "should", "target", "will" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and the Shell Group 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, 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; and (m) changes in trading conditions. 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 factors that may affect future results are contained in Shell's 20-F for the year ended 31 December 2013 (available at www.shell.com/investor and www.sec.gov). These factors also should be considered by the reader. Each forward looking statement speaks only as of the date of this announcement, 30 October 2014. Neither Shell nor any of its subsidiaries nor the Shell Group 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.