MOSCOW (MRC) -- Keyera Corp. said Tuesday that it has agreed to collaborate with Shell Canada Ltd. on potential low-carbon projects in the province of Alberta, according to MarketWatch.
The two companies have signed a memorandum of understanding in which they would leverage existing assets and adjacent lands towards a lower-carbon aims and attract new investment opportunities to the region, Keyera said.
In addition, Keyera would leverage existing pipeline capable of transporting hydrogen to a hydrogen manufacturing and distribution network in the region which it said is another opportunity to decarbonize operations.
"Keyera...and Shell will explore opportunities to build a future open access gathering and distribution network to transport captured CO2 from Keyera and other operations in the region to Shell's proposed Polaris CCS storage hub," the company said.
As MRC wrote before, Shell faces writedowns on USD400 MM in Russian downstream assets, it said, having announced USD3 B worth of other projects previously. The oil major announced on Feb. 28 that it would quit its ventures in Russia with Gazprom and related entities including the flagship Sakhalin 2 LNG plant and the Nord Stream 2 pipeline project.
We remind that Shell Chemicals expects its new petrochemical complex in southwest Pennsylvania to come online by the end of 2022, Royal Dutch Shell CFO Jessica Uhl said February 3, during the company's Q4 2021 earnings call.
Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.