- Shell
- 02 July 2024 12:38:42
Source: Sharecast
Work at the 820,000 tonnes a year biofuels facility at the Shell Energy and Chemicals Park Rotterdam has been paused "to address project delivery and ensure future competitiveness given current market conditions", the oil giant said.
As a result, contractor numbers will reduce on site and activity will slow down, "helping to control costs and optimise project sequencing".
Huibert Vigeveno, Shell’s Downstream, Renewables and Energy Solutions director, said: "Temporarily pausing on-site construction now will allow us to assess the most commercial way forward for the project.
"We are committed to our target of achieving net-zero emissions by 2050, with low-carbon fuels as a key part of Shell’s strategy to help us and our customers profitably decarbonise.
"And we will continue to use shareholder capital in a measured and disciplined way, delivering more value with less emissions."