Shell companies in the Philippines plan to venture into renewable energy, a new phase in its business in the Philippines, a top executive said Thursday.
“We’re scouting for opportunities. We’re still in the scouting phase. But globally, we have declared that as a global priority for us,” Shell country chairman Cesar Romero told reporters in Makati City Wednesday night.
“[We are] scouting for RE, in general. We’re prepared to use a number of platforms depending on what maybe commercially viable opportunity. Common start is solar but then you can explore various combinations”•solar, gas, hydro, usually very location-dependent. [It would be a [combination with gas, or even diesel genset, [but it] depends on what is suitable,” he said.
Shell’s business in the Philippines is primarily focused on oil and gas exploration and downstream oil industry sector. Shell has been involved in the Philippine business sector for over 100 years.
The company owns the second largest oil refinery in Batangas. Shell also operates the Malampaya deep water to gas project in northwest Palawan.
“We’re considering that, either a holding company or if it can be housed somewhere. This is very much still in the early phase. It’s one of the priorities in the Royal Dutch Shell Group that we want,” Romero said.
He said Shell Global formed a new organization globally called New Energy “that demonstrates how serious we are in the area.”
“We’re open-minded to partnering [in this venture]. We believe we need to make a contribution towards a more sustainable future… and part of that is our thrust towards going a more lower carbon footprint,” Romero said.
“Oil will continue to play an important role…and as in particular, we are pushing gas extensively, as probably many of you know, we are the biggest player in gas. Related to that is this new energies group that we have just formed globally to start looking for opportunities in the RE space,” Romero said.
Romero said the company was looking at various business models and viable commercial arrangements.
“We want to be an energy solution provider, of which oil and gas and renewables all [form] part of that integrated [group]… Rather than just being an oil and gas company, we want to be an energy solutions provider,” he said.