NGI The Weekly Gas Market Report
The Royal Dutch/Shell Group is planning to integrate itsworldwide trading activities under one banner in order to takeadvantage of energy trading opportunities. ‘Shell Trading’ will actas a singular worldwide network of Shell’s trading activities.
The value of globally trading natural gas, crude oil, refinedproducts and electrical power and chemicals will be enhanced due tothe integration, the company says.
“Over the past several years, Shell companies have establishedleading positions in several trading businesses which include crudeoil, oil products and natural gas,” said Paul Skinner, groupmanaging director. “We now see a significant opportunity toconsolidate our current trading platforms in an integratedapproach, enabling us to compete strongly in the evolving energytrading market. We expect to grow value in this business byleveraging our scale, global reach, talent and financial strength -it is an exciting prospect.”
Mike Warwick, executive vice president of Shell GlobalBusinesses and president of Shell International Trading &Shipping, will head up the new trading organization. Shell Tradingwill begin operations on Jan. 1, 2001. It will include Shell’scurrent trading platforms for natural gas in North America throughCoral Energy and in Europe through Shell Energy; crude and oilproducts worldwide; and chemical feedstocks in Europe and theUnited States.
“Shell Trading will possess the skill base and internationalscope to capitalize on the extensive trading opportunities inherentin Shell’s asset and market positions around the world,” saidWarwick. The new organization will set up key trading andmarketing operations in North America, Asia, the Middle East andEurope.
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