Shell to expand investments in the Philippines

Pilipinas Shell aiming for P29.7B in IPO

Shell Companies in the Philippines (SCIP)  is looking to expand its investments in oil, renewable energy, electric vehicles, and liquefied natural gas in the country. 

SCIP country chair Lorelei Osial said that the company has entered the renewable energy sector and has signed joint ventures on solar and offshore wind in 2022. 

Osial added that liquefied natural gas (LNG) remains an area of interest for the group. Shell Energy Philippines Inc. (SEPH) is looking to develop a Php 3.5 billion LNG terminal in Tabangao, Batangas. 

SEPH will develop the LNG facility within the Pilipinas Shell Petroleum Corp.’s (PSPC) Shell Tabangao import terminal – which used to be a refinery. 

PSPC, meanwhile, is looking to open up 60 mobility sites by 2025. In line with the expansion, Pilipinas Shell is also preparing for the development of its fifth import terminal. 

PSPC said that they will be disclosing the location and signing contracts for the fifth oil import terminal this year. 

Shell has also entered a partnership with the Department of Energy (DOE) to conduct a study on electric vehicle charging stations supplied by renewable energy. Its venture towards electric vehicles is part of the company’s net-zero goal to decarbonize its entire chain of operations by 2050. 

Osial said that the group’s strategy is to power progress, most especially “creating value for customers, our investors, and for the society.” She added that sustainability is part of Shell’s strategy and they are looking at the needs of their customers, but also looking at the future.