Shell: APAC Demand May Slow Next Year, but Long-Term Trajectory one of Growth
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Wednesday, 02 November 2011 |
Shell believes that the Asia-Pacific region will remain a strong growth driver in the long term, despite a possible decline in demand next year due to the world economic slowdown. Speaking in a news briefing, Chief Executive Peter Voser said that the region was a key part of the company’s investment portfolio.
"Asia-Pacific for us is the key growth region in the portfolio of Shell...that's where a huge part of our investments actually go," he said, saying that projected growth in the LNG market was particularly strong. "We see long-term growth for Asia-Pacific LNG being very strong, and therefore supply is needed to cover that demand in the second half of the decade and the next decade to come."
Voser also said that the company is planning to restart its fire-affected refinery in Singapore, saying that the facility would “get going” by the end of the year. Chairman of Shell in Singapore, Lee Tzu Yang, said that Shell would continue to work with clients whose supply was affected by the fire.
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