Last week I had the honour of appearing as a speaker at the European Gas Conference, organised by Norsk Petroleumsforening in Oslo, who kindly invited me to talk about Shell Energy Europe’s approach to changes in the gas market.
In the last few years, the European gas market has been deeply affected by radical changes to the structure of supply and demand, storage levels, price anchors, and the shift from long term to short term, just to mention a few. Furthermore, today, the energy industry is facing the urgency of meeting increasing energy demand by emitting less CO2.
The gas industry has proved to be flexible enough to navigate through these transitions, and we in Shell believe that natural gas will continue to provide more and cleaner energy over the coming years.
Navigating through these changes has enabled Shell Energy Europe to evolve, and we have adopted our customers’ needs as our “North Star”. You may be familiar with our tagline: “Energy Solutions for Your Business”. Since we launched this in 2010, we have made every effort to live up to this promise and “walk the talk”.
Our customers today need help in managing their exposures in energy commodities. They need to broaden their ability to access different energy markets at both a European and a global level, and they need to understand the regulatory requirements. They are defining their role within the energy transition, whilst taking into account feedback from shareholders, customers and suppliers to commit to environmental targets.
Shell Energy Europe has evolved to meet these needs. Our traders and originators tailor solutions to manage the price and volume risks, to provide market access to our counterparties across the 20 European countries where we operate and finally, to source clean energy, via a set of clean solutions we developed for them.
Our solutions enable us to develop long term partnership with our customers, which we believe is necessary as markets are increasingly complex, competitive and fast-moving.
Whatever the changes in the industry, stay close to your customers and you will remain relevant.