MOSCOW (MRC) -- Royal Dutch Shell's New Energies boss Mark Gainsborough will step down in April and be replaced by Elisabeth Brinton, who joined the business in 2018 and will oversee the company's plans to expand its low-carbon and power business, said Hydrocarbonprocessing.
Gainsborough, a 39-year Shell veteran, set up Shell's New Energies four years ago as the oil and gas company faces heavy investor pressure to meet the 2015 Paris climate agreement to limit global warming.
He will leave the company at the end of the year, he said in a post on his LinkedIn page. A Shell spokeswoman confirmed the moves.
Brinton, a Silicon Valley and utility industry veteran, joined Shell in 2018 and is currently vice president for strategy at New Energies, according to her LinkedIn page. She will take over on April 1.
The Anglo-Dutch company has made a number of large investments in renewables, electric vehicle technologies and power markets under Gainsborough, including acquiring British utility First Utility, European electric vehicle battery charging firm NewMotion and a stake in U.S. solar power provider Silicon Ranch.
Shell plans to invest USD2 to USD3 billion a year on its power and low-carbon business compared with an overall spending budget of USD30 billion per year between 2021 and 2025.
The company's growth plans in the sector were dealt a blow last month when it failed to acquire Dutch renewable energy business Eneco which went to a group led by Japan’s Mitsubishi Corp for 4.1 billion euros.
As MRC informed before, Shell Singapore was to restart its naphtha cracker in Bukom Island last week following a two months maintenance shutdown since the beginning of October 2019. Thus, this cracker was taken off-stream for the turnaround on 1 October 2019. The cracker is able to produce 960,000 tons/year of ethylene and 550,000 tons/year of propylene.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,904,410 tonnes in the first eleven months of 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments increased from both domestic producers and foreign suppliers. The PP consumption in the Russian market was 1,161,830 tonnes in January-November 2019, up by 7% year on year. Deliveries of all grades of propylene polymers increased, with the homopolymer PP segment accounting for the largest increase.
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.
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