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In the season finale of The Energy Podcast, Shell’s CEO Wael Sawan reflects on a year of significant change globally. He discusses navigating through uncertainty, accelerating the energy transition, and embracing AI. He also shares how Shell is transforming into a fitter, more competitive company – one better equipped to navigate whatever lies ahead. Tune in for insights into the energy system, the outlook for liquefied natural gas (LNG), and leadership through times of change. Learn more about The Energy Podcast The Energy Podcast is a Starstruck Media production for Shell.   Episode references References to $20-22 billion of capital or investment per year refer to Shell's cash capital expenditure of $20-22 billion per year between 2025-2028. References to distributions of 40-50% of our cash flow from operations (CFFO) refers to Shell's shareholder distributions target of 40-50% of CFFO through the cycle. For more on the reference to $20 billion of capital Shell has employed in power as well as lower-carbon businesses, see Shell's Capital Markets Day 2025 presentation: Delivering more value, with less emissions For more information on Shell’s energy transition targets and ambition, visit Climate | Shell Global In 2024, 78.2% of Shell's global investments included oil & gas, 11.37% included low-carbon energy solutions and 10.43% non-energy products. Shell's target is to become a net-zero emissions (NZE) business by 2050. Cautionary note, including NZE target:  Cautionary note | Shell Global See omnystudio.com/listener for privacy information.

Oil is the source of about 30% of the world's energy today. It’s also the basis of ingredients in many everyday products - from your phone to clothes to medicines. Featuring Shell's President of Upstream, Peter Costello, this episode of The Energy Podcast explores the evolving role of oil in the energy mix. Peter discusses the future of oil in the energy transition, the impact of growing energy demand, and the need to continue investing in production that’s cost- and carbon-competitive to help provide the energy the world needs today.  Learn about Shell’s oil and gas activities Learn more about The Energy Podcast Cautionary note   The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

How does the energy that powers lives move across the globe? In this episode, The Energy Podcast sets a course for the world of shipping with Karrie Trauth, Executive Vice President for Shipping and Maritime at Shell. She explains shipping’s vital, non-stop role as the backbone of today’s global energy system, connecting supply with demand across continents. Discover how much of global trade and energy are moved by sea, the challenges of keeping energy supplies flowing, and how the shipping industry is tackling decarbonisation. Learn more about The Energy Podcast Cautionary note For more on green corridors, click here. The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

In this bonus episode of The Energy Podcast, host Eddie is joined by Valeria Loreti, Principal Scientist and Delivery Manager in Motorsports at Shell, to explore the future of sustainable racing fuels for Formula 1 team Scuderia Ferrari HP. Starting in 2026, all Formula 1 cars will need to run on fuel made from advanced sustainable components – including advanced biofuels derived from non-food biomass or household waste, and renewable fuels of non-biological origin – as part of the sport’s plan to reach net-zero emissions by 2030. A key member of the Shell team developing Scuderia Ferrari HP’s bespoke fuel for 2026, Valeria shares exclusive insights into the science and cutting-edge tools behind fuel development, what happens trackside on an F1 race weekend, and the 75 years of partnership with Ferrari – one of the most iconic collaborations in motorsport. Whether you're a motorsports fan, a tech enthusiast, or curious about the future of racing, this episode is for you. Learn more about The Energy Podcast  Cautionary note  The Energy Podcast is a Starstruck Media production for Shell.  See omnystudio.com/listener for privacy information.

The Energy Podcast explores the complex path to decarbonising road transport. From adoption of electric vehicles and biofuels to policy, infrastructure and consumer behaviour, this episode unpacks the challenges of reducing emissions of road travel and what it’ll take to progress further. We are joined by Patrick Carré, a Senior Vice President for Mobility and Convenience at Shell, and Dr. Thomas Becker, Vice President for Government Affairs and Sustainability at BMW Group. Whether you're a car enthusiast, energy professional or just curious about the future of road transport, this episode offers timely insights into what it really takes to drive change. Learn more about The Energy Podcast Cautionary note The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

Carbon capture and storage (CCS) offers a way to help reduce industrial emissions at scale, particularly in sectors that are hard to decarbonise. In this episode, The Energy Podcast zooms in on Northern Lights, the world’s first commercial CO2 transport and storage service, which started operations on August 25, 2025. Lise Winther from global crop nutrition company Yara – a customer of the Northern Lights project in Norway – joins to discuss how the technology works, why government support has been critical, and what it takes to build confidence in long-term carbon storage infrastructure. The views from individuals not affiliated with Shell are their own and not those of Shell plc or its affiliates. Learn more about The Energy Podcast  Read more about CCS Cautionary note  The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

Climate scientists, governments and organisations, including the Intergovernmental Panel on Climate Change and International Energy Agency, recognise that the world needs carbon capture and storage (CCS) technology if society is to achieve net-zero emissions. In this episode, hosts Bryony and Eddie are joined by Shell’s Vice-president for CCS, Bernhard Koudelka, to discuss the role of this combination of technologies in decarbonising heavy industry, and – as the world’s first project to offer commercial CCS as a service prepares to start up – the challenges of scaling the industry to the level the world needs. Whether you’re new to CCS or looking for a deeper understanding of its role in the energy transition, this episode offers expert insight and real-world examples. What are negative emissions? Practices or technologies that remove carbon dioxide from the atmosphere are often described as achieving negative emissions. Learn more about The Energy Podcast Read more about CCS Cautionary note The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

In this bonus episode of The Energy Podcast, host Bryony speaks with Hadi Quazi, Shell’s Joint Venture Asset Manager for LNG Canada. Together, they explore how Shell and its partners brought to life the largest private-sector investment in Canadian history – and put a remote corner of Canada on the global energy map. From a 670-kilometre pipeline crossing mountain ranges to a liquefaction facility on the country’s west coast, this episode takes you inside the engineering and partnerships helping to meet the world's growing demand for liquefied natural gas (LNG). Read more about  LNG Canada Explore the engineering behind LNG Canada Learn more about The Energy Podcast  Cautionary note  The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

Demand for liquefied natural gas – or LNG – continues to grow due to its potential to deliver flexible energy around the world. It has its critics, but LNG plays an important role in the energy transition by helping to displace coal and supporting renewable power generation. In this episode, hosts Bryony and Eddie hear from Shell's President of Integrated Gas, Cederic Cremers, on why global demand for LNG is expected to grow, the importance of addressing methane emissions, and Shell's LNG ambitions. Read more about liquefied natural gas Learn more about The Energy Podcast Cautionary note The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information.

To make better decisions today, we need to challenge our assumptions about the future. For half a century, that’s what Shell’s scenarios have done. In this bonus episode, explore how and why scenarios are developed – and the three distinct visions of the future presented by Shell’s latest report. Host Eddie is joined by Peter Wood, Shell’s Chief Energy Adviser, and Dr. Mallika Ishwaran, its Chief Economist. Learn more about The Energy Podcast Explore the 2025 Energy Security Scenarios   Cautionary note The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information. See omnystudio.com/listener for privacy information.

Where are we in the global transition from fossil fuels to low-carbon energy? In the first episode of a new season, hosts Bryony and Eddie are joined by Peter Wood, Shell’s Chief Energy Advisor, for a lively conversation taking stock of the world’s energy system today. How is it evolving – and where? What’s driving the pace of progress – and holding it back? And what’s Shell’s role in all of that? Listen for unique insights into an energy system that enables everything we do. Learn more about The Energy Podcast Cautionary note The Energy Podcast is a Starstruck Media production for Shell. See omnystudio.com/listener for privacy information. See omnystudio.com/listener for privacy information.

The Energy Podcast from Shell is the home of conversation about the energy that powers our world. In this new season, we bring together our own experts and guests on the big topics in energy, from liquefied natural gas (LNG), to artificial intelligence (AI), to carbon capture and storage (CCS). New episodes drop every two weeks starting June 10, 2025, and this season you can also watch each episode on YouTube. Learn more about The Energy Podcast The Energy Podcast is a Starstruck Media production for Shell. Cautionary note See omnystudio.com/listener for privacy information. See omnystudio.com/listener for privacy information.

Rapid advances in artificial intelligence (AI) are helping the energy industry accelerate the transition to a low-carbon future. The Energy Podcast explores how AI is being used today and discusses how to unleash its potential. Presented by Eno Alfred-Adeogun. Featuring Kate Kallot, founder and CEO of Amini, Bob Flint, CEO of Mirico and Amy Challen, Shell’s global head of AI. Additional reporting by Claire François and Berry Mulder. The Energy Podcast is a Fresh Air Production for Shell, produced by Annie Day and Sarah Moore and edited by Eno Alfred-Adeogun. 00:00:00 Eno Alfred-Adeogun: Today on The Energy Podcast.   00:00:07 Audio: I will be working alongside humans to provide assistance  and  support  and  will  not  be  replacing  any  existing  jobs. You sure about that, Grace? Yes, I am sure.   00:00:20 Eno Alfred-Adeogun: That’s Nurse Grace speaking at the  world's  first  robot  press  conference  last  year.  And yes, she’s a robot. Powered  by  artificial  intelligence  this humanoid can diagnose illness, deliver  treatments,  and  even  offer  patients  emotional  support.  Impressive, right?  Well, yes, but she’s just one  of  many  examples  of  AI-enabled  machines  designed  to  address  some  of  the  world's  biggest  challenges;  social  care,  disease,  hunger,  and  probably  sooner  than  you  think.  Consider how deeply AI is  already  entwined  in  so  much  of  our  daily  lives.  From  work  commutes …   00:01:03 Audio: You’ve arrived at your destination.   00:01:04 Eno Alfred-Adeogun: ...  to virtual learning …   00:01:07 Audio: (foreign language).   00:01:07 Eno Alfred-Adeogun: ...  to, " Alexa, what’s on my to- do list?"   00:01:11 Audio: Subscribe to The Energy Podcast.   00:01:14 Eno Alfred-Adeogun: A global AI revolution isn’t  coming, it’s already here.  So, could this rapidly advancing  technology  also  tackle  the pressing challenge of lowering emissions? Hello, I’m Eno Alfred-Adeogun, and today  on  The  Energy  Podcast  we  ask,  can  AI  get  the  world  to  net- zero  faster? Joining me to discuss this  is  Kate  Kallot,  founder  and  CEO  of  the  African  tech  startup  Amini.  Bob  Flint,  CEO  of  methane  emission  monitoring  company  Mirico.  And  Shell's  global  head  of  artificial  intelligence,  Amy  Challen.  It’s really great to  have  you  all  on  the  episode  today. Now, before we delve  into  the  world  of  AI,  a  really  helpful  place  to  begin  is  defining  what  it  actually  is.  Because by the number  of  definitions  I  found  when  researching  this  episode,  that's  actually  harder  to  do  than  it  sounds.  So let’s briefly see  if  we  can  reach  a  consensus  of  what  it  actually  is.  Kate, coming to you  first.   00:02:20 Kate Kallot: For me, I have  one  simple  definition  of  AI, which  is  going  to  literally  take  one  sentence.  It is the science to  make  computers  think  and  take  actions  like  humans.   00:02:30 Eno Alfred-Adeogun: Love it.  Brilliant.  Brilliant.  Amy, what about you?  Can you add to  that?   00:02:34 Amy Challen: I think I’m going  to  give  a  more  boring  answer.  I often think about  it  compared  to  software.  In software, we write  the  rules.  We say, " If this happens,  then  that  happens,"  and  we  define  what  that  rule  is.  But AI works differently.  We give AI a  load  of  historical  data,  and  we  say, " You  tell  us  what  happens  based  on  the  patterns  you've  observed  in  the  past."  And so it can  be  a  bit  of  surprise  what  it  comes  up  with.  The other thing to  watch  out  for  is  that  if  our  historical  data  is  biased,  if  the  world  has  changed,  then  we're  going  to  see  that  in  the  model.  So we have to  be  quite  careful.   00:03:10 Eno Alfred-Adeogun: Okay.  Bob, no pressure.  We’ve got two great answers.  Do you have anything to  add  onto  the  definition?   00:03:16 Bob Flint: Yeah, I get to go last.  I think all of the  above,  plus  extending  into  areas  where  humans  aren't  necessarily  good,  which  is  looking  at  huge  volumes  of  data.  So being able to process all  the  bits  and  bytes  that  come  from  sensors  from  the  real  world  and  floods  of  information  like  you  would  find  in  an  oil  and  gas  company  and  process  that  in  super  high  speed.   00:03:40 Eno Alfred-Adeogun: Okay,  so now that’s clear, we  can  turn  our  attention  to  how  the  energy  sector  is  actually  harnessing  the  power  of  AI.  So, Bob, your company, Mirico, it  monitors  emissions,  and  then  companies  can  pair  the  data  that  you  gather  with  AI,  which  can  then  help  to  combat  the  emissions  found.  Can you share some good  examples  of  this  pairing  in  action?   00:04:06 Bob Flint: What we do is primarily we address the issue  of  methane  emissions  from  energy.  And  methane  is  about  30  times  worse  than  carbon  dioxide  for  global  warming,  so it’s something that we  all  should  be  concerned  about. The good news is  if  you  stop  emitting  methane,  the  world  starts  to  cool  pretty  much  immediately  because  methane  just  decomposes  in  the  atmosphere.  So that’s why it’s  so  important.  So we scan an  area,  say,  an  oil  and  gas  facility,  for  those  emissions.  Measurement leads to action,  leads  to  reduction,  and  we  can  then  put  that  data  into  one  of  Shell's  systems  of  record,  say  a  digital  twin.   00:04:48 Eno Alfred-Adeogun: On the digital twin,  because  that's  another  concept  I  feel  like  I've  read  a  lot  about  as  well.  Could you just expand  on  what  that  is?   00:04:54 Bob Flint: A digital twin would  be  a  replica  of  something  in  the  real  world,  a  refinery,  a  rig  and  it  sits  in  silico,  in  a  computer  rather  than  in  the  physical  world.  So that would enable  you  to,  for  example,  start  making  predictions  or  what-if  type  of  questions  on  what  might  happen  in  the  real  world  in  circumstances  which  you  wouldn't  want  to  see.  So you might predict  what  happens  if  I  change  temperatures  and  pressures  in  a  way  that  might  be  dangerous.  Well, I can do  that  in  a  computer.  I wouldn’t want to  do  that  in  the  real  world.   00:05:30 Eno Alfred-Adeogun: Now, considering the ambitious  climate  targets  that  have  been  set  worldwide,  it's  really  no  wonder  that  people  are  looking  to  AI  for  solutions.  Amy, what would you  say  are  the  main  ways  that  AI  is  enabling  a  low-carbon  energy  system?   00:05:47 Amy Challen: I think there are  four  main  ways it’s already doing this  and  is  going  to  continue  in  the  future.  Firstly, it can improve  the  efficiency  of  everything  we're  already  doing.  Whether that’s renewables or  hydrocarbons,  a  couple  of  percentage  points  of  efficiency  can  make  a  difference  to  the  productivity  of  our  energy  system  and  can  reduce  CO2  emissions  and  methane  emissions.  The second one is I don't  think  we're  going  to  enable  a  widespread  renewable  system  without  having  really  excellent  forecasting  and  optimisation,  two  things  that  AI  is  incredibly  good  at.  Because renewables like wind  and  solar,  they're  intermittent.  Sometimes the wind blows,  sometimes  the  sun  shines,  sometimes  it  doesn't,  and  it's  not  entirely  predictable.  So, you use AI  to  predict  when  that  will  happen  and  to  optimise  how  you  use  your  battery,  how  you  buy  and  sell  energy  to  make  sure  that  we  always  have  the  energy  supply  when  we  need  it. The third way is  through  everything  we  can  do  in  lab  sciences,  in  research  and  development  there,  and  in  design  of a  new  energy  components  and  systems.  So for example, with  the  lab  sciences,  you  have  a  whole  process  of  research  you  go  through.  You look at papers  and  patents  to  have  an  idea  of  what  to  research  on.  AI can really speed  up  your  search  there  and  find  the  right  things  to  be  looking  at  to  make  suggestions.  And finally, it’s got  a  big  role  to  play  in  monitoring.  If we don’t know  what  the  current  situation  is  in  terms  of  working  out  where  methane  emissions  is,  then  we  don't  have  a  baseline,  and  we  can't  track.  And that’s hugely important  to  be  able  to  know  what's  effective,  what's  not,  and  where  are  we  going.   00:07:25 Eno Alfred-Adeogun: Kate, you’re based in  Africa,  so  it'd  be  really,  really  good  if  you  could  paint  a  picture  of  the  role  AI  is  playing  on  the  continent,  if  at  all,  in  different  energy  systems.   00:07:37 Kate Kallot: Africa is still the most  data- scarce  continent.  We think about the data  scarcity  affecting  many  different  places,  whether  it's  having  billions  of  people  that  are  still  unconnected,  whe

As countries across the world strive to reach their climate targets, they must make sure that the move to a cleaner energy system supports economic growth. The Energy Podcast explores this difficult balancing act. Presented by Julia Streets. Featuring Dr Rob Charnock of the Metis Institute for Climate Strategy, climate scientist and advisor Dr Yvonne Maingey-Muriuki and Shell’s chief economist Dr Mallika Ishwaran. The Energy Podcast is a Fresh Air Production for Shell, produced by Annie Day and Sarah Moore, and edited by Eno Alfred-Adeogun. Episode Transcription: 00:00:00 Julia Streets: Today  on  The  Energy  Podcast.   00:00:07 Speaker 2: Economic  growth  and  developmental  sustainability  are  not  mutually  exclusive.   00:00:13 Speaker 3: With  a  strong  talent  pool  of  young  entrepreneurs  and  qualified  engineers,  we  are  pressing  forward  with  solutions  in  climate-smart agriculture,  water  conservation,  clean  energy  innovations,  and  more.   00:00:29 Speaker 4: Let us come  together  to  build  resilient,  sustainable  and  green  businesses,  communities,  and  countries  of  the future.   00:00:39 Julia Streets: The  dust  has  settled  on  COP28,  and  the  main  takeaway  was  clear;  the  world  is  falling  short  of  its  climate  targets.  But  as  the  leaders  who  gathered  at  the  conference  highlighted,  there  remains  an  appetite  to  do  better  while  simultaneously  ensuring  economies  keep  turning.  The  question  is,  how?  The  climate  summit  showcased  diverse  approaches.  Some  nations  prioritised  boosting  the  supply  of  lower  carbon  energy  to  meet  demand  and  remain  competitive.  Others  advocated  for  increasing  funding  in  renewables  to  attract  investment  and  spur  the  creation  of  more  jobs.  And  while  some  countries  pushed  for  a  complete  phase-out  of  all  fossil  fuels,  others  favoured  a  phase-down,  where  coal,  oil,  and  gas  usage  is  reduced  rather  than  eliminated  as  a  more  economically  viable  plan.  The  reality  is,  different  solutions  will  be  needed  in  different  places,  and  countries  will  move  at  different  paces  to  achieve  net- zero. Hello,  I'm  Julia  Streets,  and  today  on  the  Energy  Podcast  as  we  look  ahead  to  2024,  we  ask:  how  can  economies  thrive  while  the  world  cuts  carbon?  Joining  me  today  are  guests,  Dr  Yvonne  Maingey-Muriuki,  who  is  a  climate  scientist  and  strategic  practitioner  to  organisations  operating  in  Africa.  Dr  Rob  Charnock  who  is  director  of  the  Metis  Institute  for  Climate  Strategy,  and  Shell's  chief  economist,  Dr  Mallika  Ishwaran.  Now,  before  we  look  ahead  to  what  this  year  and  beyond  may  have  in  store,  let's  take  a  moment  to  reflect  on  where  things  currently  stand.  Rob,  I'm  going  to  come  to  you.  How  would  you  rate  the  current  global  progress  in  cutting  carbon?   00:02:27 Dr Rob Charnock: I  think  what  was  incredibly  interesting  to  see  at  the  recent  COP,  was  that  it's  the  first  global  stocktake,  so  we  really  get  a  sense  of  how  close  we  are  to  being  on  track  towards  the  targets  set  out  in  the  Paris  Agreement.  And  what  I  thought  was  very  encouraging  is,  previously  we  thought  we  were  on  track  for  somewhere  between  2. 7  to 3.6  degrees  of  warming,  but  as  we  get  more  and  more  commitments  coming  through  that  are  updated  as  well  after  a  few  years,  we  see  that  we're  getting  closer.  Now,  that's  not  to  say  we're  on  track  for 1. 5  or  even  well  below  two  degrees  at  the  moment.   00:02:58 Julia Streets: Some  areas  of  the economy  are  more  challenging  to  decarbonise  than  others.  I  mean,  I  think  particularly  industry  and  transport  as  well,  but  they  are  central  to  economic  growth.  I'm  curious  to  think  about  what's  the  way  forward,  and  Mallika,  I'd  love  to  come  to you  for  your  thoughts  on  that.   00:03:16 Dr Mallika Ishwaran: So  what  we  are  seeing  is  there's  a  sector  by  sector  difference  in  how  the  different  sectors  are  progressing  in  the  transition.  I  think  you  can  see  the  evidence  is  there  that  power  is  decarbonising,  renewables  are  coming  in  at  scale  and  really  are  changing  and  disrupting  the  system.  But  there  are  other  sectors.  I  would  put  passenger  EVs  as  part  of  the  transport  segment  as  something  that  is  changing  rapidly.  But  there  are  other  bits  of  the  transport  segment  not  transforming  as  easily,  and  these  are  areas  that  require  either  high  heat  or  they  require  dense  energy  molecules,  and  you  can't  do  that  with  electricity  unfortunately.  So  they're  requiring  things  like  hydrogen  or  sustainable  biofuels,  and  these  are  taking  a  little  bit  longer  to  bring  to  market  and  to  commercialise.  So  they're  still  quite  a  bit  more  expensive  than  the  fuels  we  use  today.  And  so  the  key  there  is,  how  do  we  accelerate  the  process  of  commercialisation  of  these  kinds  of  fuels  so  that  the  whole  world  is  changing  and  transforming  to  low  carbon  at  pace  at  the  same  time  by  2050.   00:04:17 Julia Streets: Rob,  I'd  love  to  get  your  thoughts  on  this.  The  incentives  that  are  needed  in  order  to  encourage  consumers  to  choose  lower  carbon  goods  and  services  that  will  drive  down  cost  and  also  increase  adoption.   00:04:29 Dr Rob Charnock: Over  time  we've  heard  this  narrative  that  low  carbon  might  be  more  expensive,  but  as  time  goes  by,  you  quickly  find  that  the  cost  profile  decreases  rapidly,  and  frankly  beyond  the  forecasts  as  well.  So,  I  would  say,  even  the  economic  reason  for  shifting  consumer  demand  is  already  coming  online  in  most  segments,  and  this  will  continue  to  do  so.  I  also  think  shifting  customer  preferences  and  shifting  demands  suggest,  if you are  not  properly  tackling  the  carbon  profile  of  your  products  or  even  the  recyclability  of  those  products  afterwards,  there  is  going  to  be  a  significant  shift  away  from  what  you're  selling.   00:05:05 Julia Streets: There's clearly  a  sense,  we  need  to  move  at  pace  and  we  need  to  move  at  scale.  I'd like  to  return  to  COP28,  because  one  of  the  key  topics  was  about  phasing  out  fossil  fuels versus  the  phasing  down  of  fossil  fuels,  but  the  final  deal  made  no  mention  of  either.  And  instead,  we  note  that  the  pledge  talked  about  the  transitioning  away  from  fossil  fuels.  So  not  phasing  out,  not  phasing  down,  but  transitioning  away.  And  Yvonne,  I  think  particularly  of  a  remark  made  by  Ruth  Nankabirwa  who  is  Uganda's  energy  minister.  She  had  a  very  interesting  take  on  this,  and  let  me  just  read  what  she  told  journalists  during  COP28: “To  tell  Uganda  to  stop  fossil  fuels,  it  is  really  an  insult.  It  is  like  you  are  telling  Uganda  to  stay  in  poverty."  I'd  love  to  get  your  thoughts  on  that.  How  would  you  respond  to  that?   00:06:00 Dr Yvonne Maingey-Muriuki: I  mean,  it's  a  really  sort of difficult  position  to  be  in.  I  think  on  the  one  hand,  African  governments,  and  I'm  speaking  specifically  about  the  Kenyan  government,  have  made  their  intentions  very  clear; we  are  going  to  foster  low  carbon  resilient  development  pathways.  If  you  look  at  Kenya  as  an  example,  where  I'm  based,  where  I'm  from,  80%  of  our  energy  is  already  renewable.  We're  looking  at  more  geothermal,  hydro,  solar.  The  majority  of  our  grid  is  actually  already  quite  green.  The  opportunity  within  the  continent  is  quite  significant  to  focus  on  it and  to  drive  renewable  energy  to  power  our  economy.  On  the  other  hand,  it's  important  to  think  about  how  Africa  is  powered  specifically,  because  this  is  where  the  root  cause  of  the  problem  is.  About  43%  of  the  total  population  in  Africa  lack  access  to  basic  electricity.  This  means  that  about  600  million  people  right  now  do  not  have  access  to  energy.  I  think  the  first  question  for  the  African  continent  is  just  ensuring  that  we  have  access  to  energy  first.  But, we  have  to  contend  with  the  reality  that  African  economies  for  the  first  time,  some  of  which  have  just  discovered  oil,  I'm  talking  about  Kenya,  looking  at  one  of  the  most  impoverished parts  of  the  country,  Turkana,  which  discovered

As the world grapples with the urgent challenge of climate change, the energy industry is working to reduce greenhouse gas emissions while continuing to deliver the secure and affordable energy people need today. Is switching to renewables the answer, and do oil and gas have a role to play? Presented by Julia Streets. Featuring Dr Bassam Fattouh of the Oxford Institute for Energy Studies, Sian Lloyd-Rees of Mainstream Renewable Power and Shell’s Zoe Yujnovich. The Energy Podcast is a Fresh Air Production for Shell, produced by Annie Day and Sarah Moore, and edited by Molly Lynch and Sophie Curtis.   TRANSCRIPT Shell The Energy PodcastSeason 4, Episode 4 00:00:00Julia Streets: Today  on  The  Energy  Podcast. 00:00:07Bassam Fattouh: If  oil  and  gas  is  to  remain  part  of the  energy  mix,  the  key  issue  then  becomes  how  to  reduce  greenhouse  gas  emissions  from  hydrocarbon  related  activities. 00:00:16Sian Lloyd-Rees: If  we  want  to  achieve  net- zero  by  2050,  we  all  need  to  adopt  that  2050  mindset  now,  making  the  decisions  today  that  are  consistent  with  the  future  that  we  want. 00:00:26Zoe Yujnovich: The journey to net-zero must be achieved whilst at the same time providing a stable and reliable supply of energy. 00:00:34Julia Streets: The  science  is  clear  and  the  world  is  in  a  fight  to  avoid  the  most  serious  effects  of  climate  change.  Energy  and  the  use  of  it  is  one  of  the  biggest  contributors  to  global  greenhouse  gas  emissions.  And  this  means  that  the  oil  and  gas  industry,  which  supplies  much  of  that  energy,  is  under  pressure  like  never  before.  Many  countries  are  working  to  achieve  net- zero  carbon  emissions  by  2050,  while  continuing  to  meet  the  demand  for  secure  and  affordable  energy. The  impact  of  the  war  on  Ukraine  on  the  global  energy  market  has  shown  just  how  delicate  the  balance  is  to  maintain.  Some  critics  argue  that  only  a  drastic  scale  back  from  oil  and  gas  will  do,  advocating  for  actions  like  an  immediate  end  to  the  development  of  new  oil  and  gas  fields.  Others  believe  that  the  global  economy  cannot  be  decarbonized  without  the  constructive  participation  of  the  oil  and  gas  industry. On  one  thing,  there  is  broad  agreement  that  business  as  usual  is  no  longer  an  option.  How  can  the  world  manage  the  balancing  act  of  meeting  demand  while  investing  in  the  energy  of  the  future?  Does  it  need  to  go  further  and  faster?  Hello,  I'm  Julia  Streets,  and  today  on  the  Energy  Podcast  we  ask;  is  there  a  role  for  oil  and  gas  in  the  journey  to  net- zero?  With  me  to  discuss  this  are  Dr.  Bassam  Fattouh,  Director  of  the  Oxford  Institute  for  Energy  Studies,  Sian  Lloyd- Rees,  the  UK  Managing  Director  for  Mainstream  Renewable  Power  and  Shell's  Integrated  Gas  and  Upstream  Director,  Zoe  Yujnovich.  So,  Bassam,  let  me  start  with  you.  How  does  the  world  get  its  energy  today? 00:02:10Bassam Fattouh: Based  on  the  latest  statistics  for  2022,  hydrocarbons,  that  means  oil,  gas  and  coal,  accounted  for  the  bulk  of  primary  energy  consumption.  Oil  accounted  for  more  than  30%  of  primary  energy  consumption,  followed  by  coal,  which  still  account  for  more  than  25%,  and  then  the  share  of  natural  gas  is  not  far  away,  standing  at  around  25%.  The  share  of  renewables  in  the  form  of  solar  and  wind  has  been  rising  fast  and  accounted  close  to  10%  of  primary  energy  consumption,  surpassing  nuclear  energy  and  hydroelectricity.  But  Julia,  it's  important  to  focus  not  only  on  the  shares,  but  also  the  growth  rates.  For  instance,  if  you  take  coal,  the  growth  rate  between  2012 and 2022  was  close  to  zero,  whereas  renewables  grew  more  than  12%  per  annum  during  the  same  period.  So the  energy  mix  actually  can  evolve  faster  than  implied  by  historical  standards,  which  is  needed  if  we  are  to  meet  our  climate  targets. 00:03:12Julia Streets: So  in  support  of  the  UN  Paris  Agreement's  ambition  to  limit  the  global  temperature  increase  to  1. 5  degrees  centigrade,  above  pre- industrial  levels,  many  countries  have  set  net- zero  targets  and  I'm  curious  to  know  what  does  that  mean  for  the  energy  industry?  Sian,  can  I  come  to  you? 00:03:28Sian Lloyd-Rees: As  Bassam’s  just  talked  about,  the  energy  mix  today  includes  a  number  of  different  energy  sources  and  to  achieve  net- zero,  we  need  to  grow  our  cleaner  energy  mix  going  forward,  but  that's  going  to  take  time  and  it's  going  to  take  a  balance  of  different  things.  From  my  perspective,  as  a  wind  developer,  we  are  focused  on  trying  to  accelerate  the  uptake  and  the  introduction  of  wind  powered  energy  and  solar  energy  on  a  global  basis.  But  there  are  challenges. When  we  look  at  the  wind  resource  in  the  world,  a  lot  of  it  lies  in  the  northern- hemisphere,  the  greatest  need  is  in  the  southern- hemisphere.  It  lies  far  from  offshore  in  quite  deep  waters,  and  that  requires  different  technologies,  floating  technologies,  to  be  able  to  access  it.  We  then  have  the  challenge  of  transporting  that  wind  energy,  once  we've  managed  to  deliver  it at  an  affordable  price,  to  different  parts  of  the  world.  So  we  have  technology  challenges,  we  have  geographical  challenges.  We  also  have  the  challenges  around  the  supply  chain  and  the  materials  that  we  need  in  order  to  be  able  to  ramp  up  in  terms  of  renewables.  Yes,  we  need  to  grow  our  renewable  energy  percentage  in  terms  of  the  mix,  but  we  also  need  to  focus  on  the  energy  sources  today  and  we  need  to  decarbonize  those.  Oil  and  gas  today  needs  greater  decarbonization,  but  so  do  many  other  heavy  industries  as  well  around  the  globe. 00:04:39Julia Streets: And Zoe,  perhaps  I  could  bring  you  in  here.  I'd  love  to  get  your  thoughts  as  well  about  what  all  this  means  for  the  energy  industry. 00:04:44Zoe Yujnovich: The  journey  to  net- zero  must  be  achieved  whilst  at  the  same  time  providing  a  stable  and  reliable  supply  of  energy.  Whilst  the  global  energy  mix  is  changing,  demand  for  energy  services  will  continue  to  grow  and  it'll  need  to  be  met  by  a  combination  of  different  types  of  energy.  It's  certainly  going  to  be  critical  that  we  don't  dismantle  the  current  energy  system  faster  than  we  can  build  the  clean  energy  system  of  the  future.  We  are  very  focused  on  trying  to  understand  how  to  change  the  demand  patterns  and  indeed  how  we  therefore  supply  alternative  energy  into  those  different  demand  hubs.   Oil  and  gas  will  continue  to  play  a  crucial  role  in  the  energy  system  for  decades  to  come,  but  of  course  we  will  see  that  demand  reducing  gradually  over  time.  The  other  thing  I  think  I  would  say  is  of  course  it's  also  very  critical  that  we  actually  lead  by  example  in  how  we  drive  that  energy  efficiency.  And  we  are  very  focused  on  cutting  emissions  from  the  existing  operations.  So  in  short,  it's  absolutely  essential  that  the  energy  mix  will  change,  we  must  reduce  emissions  from  our  own  operations  and  also  find  those  profitable  sustainable  ways  to  transition  to  net- zero. 00:05:56Julia Streets: Just  building  on  that,  there's  some  warnings  from  environmental  groups.  The  continued  investment  in  oil  and  gas  infrastructure  can  risk  the  making  of  the  transition  to  cleaner  energies  even  more  difficult  or  even  too  expensive.  And  I'm  really  curious  to  hear  from  our  guests  today  whether  they  think  that  is  fair.  Sian,  can  I  come  to  you  first? 00:06:16Sian Lloyd-Rees: Yes,  and  there  is  a  lot  of  discussion  around  the  concern  that  infrastructure  decisions  and  investment  today  shape  the  energy  future  that  we'll  get.  So  from  our  global  wind  developer  perspective,  we  look  carefully  at  government  policies  and  the  subsidies  and  investment  areas  they  prioritize.  And  the  UK  move  faster  than  many  countries  in  focusing  its  fiscal  incentives  into  renewable  development  with  a  contract  for  different  commercial  mechanism,  which  they  initiated,  which  guarantees  a  long- term  contract  certainty  for  wind  developers.  Likewise,  in  the