Shell Plans to Pump Up to £25B into the UK’s Energy Sector

Shell Plans to Pump Up to £25B into the UK’s Energy Sector

Showing its commitment to achieve zero-emissions objectives, Shell has announced its intentions to invest up to £25 billion into the UK’s energy sector.

“Today I can announce that Shell UK is planning to invest between £20 and £25 billion into the UK energy system over the next decade,” Shell’s UK Country Chair David Bunch said in a LinkedIn post. “More than 75% of this will be in low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility. These investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply whilst stimulating economic growth and jobs.”

This announcement came weeks after Shell stated that it plans to withdraw from the Russian hydrocarbon business in opposition to the invasion of Ukraine.

According to Reuters, the company announced last February that it would eliminate carbon emissions by 2050 through boosting hydrogen, biofuels, and its other low-carbon businesses.

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