Recently appointed Shell (LON: SHEL) chief executive, Wael Sawan, is bringing its low carbon and renewables energy roles under one management.
As part of this shake-up, the energy supermajor is “bolstering” the role of executive vice president for renewable generation held by the former Orsted man, Thomas Brostrom, who joined the company in 2021.
Now those working in the energy giant’s wind and solar power businesses will report to Singapore-based executive vice president at Shell Energy, Steve Hill.
Shell’s Anna Mascolo, currently executive vice-president for Emerging Energy Solutions, who works out of the UK, will become executive vice president for low-carbon products and sectors, including biofuels, carbon capture and nature-based solutions
The two will be working under Shell’s downstream and renewables division boss, Huibert Vigeveno.
A Shell spokesperson wrote: “Shell remains committed to our Powering Progress strategy which is focused on Shell becoming a net zero energy company by 2050.”
Originally reported by Bloomberg, the news comes months after the new Shell chief executive unveiled plans to combine oil and gas production and liquefied natural gas (LNG) divisions and place the renewables business in the downstream division.
This comes as Shell looks to receive government backing for the Acorn carbon capture and storage (CCS) project in Peterhead, a project in which it is a backer.
The government confirmed on Thursday it has launched its “Track 2” process to back CCS clusters across the UK and noted that Acorn “is one of the two best placed” for funding.
Based at St Fergus in Aberdeenshire, Acorn missed out on “Track 1” funding in 2021 – part of a £1bn package to get the first two clusters up and running in the coming years – leaving the progress of the nationwide Scottish Cluster in limbo.
Simon Roddy, Senior Vice President of Shell’s UK Upstream business, said: “We welcome the launch of Track 2 and the Government’s positive commitment to developing CCS as a key element of the energy transition.
“Shell is the technical developer of the Acorn Project, which is central to the Scottish Cluster providing the route to the decarbonisation of Scottish and UK industry.”