Page 8: of Offshore Engineer Magazine (Nov/Dec 2019)

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FEATURE Energy Outlook

A Blue/Green

Energy

Revolution

A seismic shift in the dialogue around big oil and climate has occurred in the past 12 months. It’s a change in how big oil is orientating itself around what many call the energy transition. Climate goals - governmental, international and industry led - as well as investor behavior (capital flight from fossil fuel) are driving the change.

BY ELAINE MASLIN he landscape is indeed dominated key conference sessions shifting. Andy Kinsella, Offshore Europe, in Aberdeen, in group CEO at Main- September – when these topics stream Renewable Power, were minor at the previous event.

T says twice as much capital invest- It’s not an entirely new move- ment going into wind and solar ment, however. Shell, for example, globally compared with coal, oil, has been talking about cleaner gas gas and nuclear. In the 1980s, sev- for a while. Its execs tell oil and gas en of the top 10 companies in the industry events about how Shell

S&P 500 were oil and gas. Now is transitioning into a broader there’s just one, he adds. energy business. “Shell is one of

The result is that companies – the largest traders in electricity,” operators and their supply chain Jo Coleman, Energy Transition – are no longer talking about Manager for Shell, told Offshore themselves as oil and gas compa- Europe. Shell sees a big future in nies; they’re energy companies, charging points, at petrol stations making energy “safer, cleaner and and in homes, she says, as well as more ef? cient for people and for trying to grow demand in hydro- the planet”. Talk about the energy gen and developing carbon cap- transition and decarbonization ture and storage (CCS). 8 OFFSHORE ENGINEER OEDIGITAL.COM