Power

Shell here to stay, bets big on power generation

Newly formed power entity Shell Energy Philippines Inc. is expected to invest billions of pesos into the industry.

“As we continue to expand our core business, one key change that you may expect to see from Shell is a more diversified portfolio set to meet the cleaner energy needs of the country. We launched the power business of Shell under Shell Energy Philippines Inc. last year. You can expect bigger things from Shell Energy Philippines Inc. as its focuses on delivering cleaner, flexible, and innovative energy solutions to our commercial and industrial customers,” said Shell Philippines chairman Cesar Romero.

Shell Energy has filed an application for a notice to proceed for its liquefied natural gas (LNG) project with the Department of Energy (DOE).

Romero said Shell, which has been in an economic partner of the Philippines for the past 107 years is here to stay.

“We have been doing business here for 107 years now, and we continue to consider the Philippines as one of our most important and vibrant markets. I’ve said it before, and I will emphasize it again: we are here to stay,” Romero said.

Pilipinas Shell Petroleum Corp., the second largest oil company in the country is also reshaping itself “to adapt to a different future, and we have effectively laid down the foundations for a resilient,
adaptive, and future-ready organization,” said Romero.

Late last year, Pilipas Shell opened its third import terminal in Subic, which together with the Tabangao Terminal in Batangas and the North Mindanao Import Facility (NMIF) in Cagayan de Oro, thus forming a robust supply triangle that maximizes its efficiency and strengthens its world-class supply chain network in the country.

The company, however, decided to shut down its 110,000 barrels per day Tabangao refinery in Batangas and transform it into an import terminal due to low refining margins as a result of the COVID-19 pandemic.

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