When Shell announced the successor to its chief executive Peter Voser, it set a few tongues wagging. Ben van Beurden, the current head of refining, had not been among those tipped to lead the company come January.
Mr Van Beurden's role in the downstream business sits awkwardly with the company's focus on upstream projects, and the struggle to replace the crude reserves on its books. But a closer look sheds insight not only into Shell's strategy, but the industry trend that defines it.
In a career spent at the oil major, the incoming chief executive gained a decade of experience at Shell's liquefied natural gas (LNG) business.
It is an experience he will likely draw on heavily once he is enthroned at the head of the Anglo-Dutch company.
Shell has for some time placed a strong emphasis on natural gas, and its output is roughly divided equally between gas and crude. It has built the largest gas-to-liquids plant in the world, the Pearl GTL project in Qatar, where natural gas is transformed into paraffins and oil-like products. It is heavily invested in LNG, and plans to build Iraq's first export terminal to complement crude exports. In April, it was selected to develop the Bab sour-gas field in Abu Dhabi, a project that requires a deep expertise in gas production due to the complexities posed by the large amounts of sulphur in the reservoir.
Shell is not alone. Almost every major international oil company now includes gas as a major component of its portfolio. And the trend is fed by a seemingly unending sequence of new gas sources, as well as new production methods that greatly enlarge the reserve pool.
Iraq's oil abundance is accompanied by copious amounts of associated gas, it is Shell's job to capture it and feed it into the countries' power plants, while hoping to siphon off significant amounts for more lucrative LNG exports. The international oil companies (IOCs) in the Iraqi region of Kurdistan are keen not just on the autonomous region's crude, but are planning gas exports via Turkey.
In East Africa, IOCs are positioning themselves to exploit huge offshore reserves that have recently been discovered. Australia is poised to overtake Qatar as the world's biggest exporter of LNG as shale gas deposits are becoming accessible through fracking. Also known as hydraulic fracturing, fracking is a production technique that extracts oil and gas from deep lying rock formations, such as shale, using horizontal drilling and the injection of water, sand and chemicals to fracture the rock.
Fracking has already revolutionised the natural gas market in the United States by drastically increasing supply and bringing prices crashing down. The new era of cheap energy has done much to revive American industry and speed up the recovery of the US economy. The country could also become a significant exporter of gas, and the government has already given the green light to convert a LNG import terminal into an export facility.
Gas finds its main use in power generation, where it represents a cleaner alternative to coal, a cheaper alternative to renewables, and a safer alternative to nuclear energy. But it is also increasingly used in transportation, while it is a major feedstock for the petrochemical industry. With the need for energy growing, gas will over time also increase its share in the energy mix, predicts the International Energy Agency.
In the Arabian Gulf, natural gas plays a crucial role in powering economic development. The bulk of the region's power plants are gas-fired, as oil producers have come to rely on the hydrocarbon that is produced alongside oil. Associated gas used to be adequate to meet needs, but urban development, wasteful use and industrial development have left existing supply insufficient, leaving governments scrambling for new sources.
In Abu Dhabi, this means the development of sour-gas fields, and Bab is the second such project after the Shah field, where production is set to begin next year. The UAE also receives gas from Qatar, while Abu Dhabi is following Dubai's lead by creating an LNG import terminal.
Abu Dhabi National Oil Company has sanctioned US$40 billion of expenditure to boost the emirate's oil and gas production in afive-year investment cycle, $25bn of which will be used to increase the gas supply
Bab captures the trend towards gas perfectly: one of the world's biggest - and oldest - oil companies working in one of the world's largest oil producers to complete a technically challenging project to produce one of the world's most in-demand commodities.
fneuhof@thenational.ae
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
FIGHT CARD
Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)
Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)
Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)
Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)
Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)
Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)
Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)
Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)
Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)
The%20specs%3A%202024%20Mercedes%20E200
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In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Dengue%20fever%20symptoms
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Company%20Profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Yuki Means Happiness
Alison Jean Lester
John Murray
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
WITHIN%20SAND
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
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UAE%20medallists%20at%20Asian%20Games%202023
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West Asia Premiership
Dubai Hurricanes 58-10 Dubai Knights Eagles
Dubai Tigers 5-39 Bahrain
Jebel Ali Dragons 16-56 Abu Dhabi Harlequins
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