Shell Energy Europe acquires Morgan Stanley’s European gas and power trading book
Jul 10, 2015
Shell Energy Europe Ltd. (Shell) has signed a binding sales and purchase agreement for Morgan Stanley & Co. International plc’s European gas and power trading portfolio. Comprising predominantly physical and financial gas and power trades, the deal further expands Shell’s activities in core energy markets across Europe.
Slavko Preočanin, President of Shell Energy Europe, said: “This acquisition builds on Shell Energy Europe’s proven trading capabilities, deep market knowledge and diverse portfolio, all of which allows us to offer value to our customers. Our traders have decades of experience dealing with multiple commodities across a variety of markets using physical as well as financial products. This provides innovative solutions for customers to deliver a reliable source of energy, and also to manage the price risk inherent in global commodity markets.”
With capability in 20 European countries, Shell Energy Europe is one of the most competitive and innovative marketers and traders of energy commodities. Shell Energy Europe’s scale and strong relationships with existing counterparties were key elements of the company’s ability to acquire Morgan Stanley’s entire European gas and power trading portfolio.
Shell International Media Relations +44 (0) 20 7934 5550
Notes to Editors:
Shell Energy Europe Ltd
Shell Energy Europe Ltd is one of the major energy supply businesses and a leading marketer and trader of energy commodities, including gas, power and CO2. Shell Energy Europe’s trading office is in London. It was formed from the merger of Shell’s gas marketing and trading business in 2009, and leverages the integration of these capabilities to offer “Energy Solutions for Your Business” to customers, including Pan-European energy-intensive industries; commodity trading companies; energy production companies; energy retail companies; energy asset investors and financial institutions; power producers and storage and transport providers.
Royal Dutch Shell plc
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit www.shell.com.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to companies in which Royal Dutch Shell either directly or indirectly has control. Companies over which Shell has joint control are generally referred to as “joint ventures” and companies over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This announcement contains forward looking statements concerning the financial condition, results of operations and businesses of Shell and the Shell Group. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements.
Forward-looking statements include, among other things, statements concerning the potential exposure of Shell and the Shell Group to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward looking statements are identified by their use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "goals", "intend", "may", "objectives", "outlook", "plan", "probably", "project", "risks", "seek", "should", "target", "will" and similar terms and phrases.
There are a number of factors that could affect the future operations of Shell and the Shell Group and could cause those results to differ materially from those expressed in the forward looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products;
(c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions;
(j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.
Readers should not place undue reliance on forward looking statements. Additional factors that may affect future results are contained in Shell's 20-F for the year ended 31 December 2014 (available at www.shell.com/investor and www.sec.gov). These factors also should be considered by the reader. Each forward looking statement speaks only as of the date of this announcement, 10 July 2015.
Neither Shell nor any of its subsidiaries nor the Shell Group undertake any obligation to publicly update or revise any forward looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward looking statements contained in this announcement.