Shell reduces Scope 3 emissions target
18 March 2024
UK-based oil major Shell is now targeting a 15-20% reduction by 2030 in the net carbon intensity of the energy products it sells, compared with 2016, against its previous target of 20%.
The company also plans to grow its liquefied natural gas (LNG) business in line with LNG being viewed as a critical fuel in the energy transition.
Related read: BP and Shell’s spending on renewables flatlines in 2023
“We are cutting emissions from oil and gas production while keeping oil production stable, and growing sales of low-carbon energy solutions while gradually reducing sales of oil products such as petrol, diesel and jet fuel,” the company’s Energy Transition Strategy 2024 report stated.
The firm aims to achieve net-zero emissions by 2050 across all its operations and energy products and said this target is transforming its business.
Progress
The company reported making progress against its climate targets. It said as of 2023, it achieved more than 60% of its target to halve emissions from its operations by 2030, compared with 2016.
The same year, Shell said it achieved 0.05% methane emissions intensity, which is significantly below its target of 0.2%, and in line with a target to achieve near-zero methane emissions by the end of the decade.
Shell also cited that it contributed to the World Bank’s Global Flaring and Methane Reduction Fund last year, which indicates its support for an industry-wide action to drive down methane emissions and flaring.
The company noted having hit – for the third consecutive year – its target to reduce the net carbon intensity of the energy products it sells, with a 6.3% reduction compared with 2016.
To help drive the decarbonisation of the transport sector, Shell has also set a new target to reduce customer emissions from the use of its oil products by 15-20% by 2030 compared with 2021.
Power shift
The company said that its focus on where it can add the most value has led to a strategic shift in its integrated power business.
“We plan to build our power business, including renewable power, in places including Australia, Europe, India and the USA, and have withdrawn from the supply of energy directly to homes in Europe.
“In line with this shift to prioritising value over volume in power, we will focus on select markets and segments,” the firm said, indicating an intention to sell more power to commercial customers, and less to retail customers.
“Given this focus on value, we expect lower total growth of power sales to 2030, which has led to an update to our net carbon intensity target.
“We are now targeting a 15-20% reduction by 2030 in the net carbon intensity of the energy products we sell, compared with 2016, against our previous target of 20%.”
Investments
Shell plans to invest between $10bn and $15bn between 2023 and the end of 2025 in low-carbon energy solutions.
It also cited investing $5.6bn on low-carbon solutions in 2023, more than 23% of its total capital spending.
These investments include electric vehicle charging, biofuels, renewable power, hydrogen and carbon capture and storage.
Related read: Shell abandons Iraq chemicals project
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Oman tenders three major distribution deals
19 June 2025
Oman Electricity Transmission Company (OETC) has tendered three significant contracts to build new substations in the sultanate.
The first contract, estimated at about $100m, covers the construction of the Majan 400/220/132kV grid station along with an associated 400kV line-in line-out underground cable from Sohar Free Zone to the Sohar Interconnector Station.
The second deal, worth about $35m, covers the construction of the Sultan Haitham City 132/33kV grid station and associated 132kV line-in line-out underground cables running 4 kilometres from Mabella to Mabella Industrial Zone.
The bid submission deadline for both tenders is 3 July.
A tender deadline of 1 July has been set for the construction of the Surab 400/33kV grid station and an associated 400kV line-in line-out cable from the Duqm grid station to the Mahout grid station. Like the Majan substation, the Surab facility has an estimated contract value of about $100m.
In addition, OETC, part of the government-owned Nama Group, is evaluating bids for a number of other major substation construction tenders. These include:
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China Energy Engineering Group Shanxi Electric Power Construction Company recently won the deal to upgrade the 220/132kV Sohar Free Zone grid station, while Oman National Engineering & Investment Company won a contract to build the Mahadha 220kV substation.
In 2024, OETC awarded more than $1.2bn worth of transmission and distribution work. Major signed contracts included:
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19 June 2025
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Saudi sovereign wealth vehicle the Public Investment Fund (PIF) has launched Expo 2030 Riyadh Company (ERC) as a wholly-owned subsidiary to build and operate facilities for Expo 2030.
In a statement, the PIF said: “During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64bn to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6bn to GDP.”
The masterplan for Expo 2030 Riyadh encompasses an area of 6 square kilometres, making it one of the largest sites designated for a World Expo. Situated to the north of the city, the expo site will be located near the future King Salman International airport, providing direct access to various landmarks within the Saudi capital.
Countries participating in Expo 2030 Riyadh will have the option to construct permanent pavilions, contributing to the event's legacy. This initiative is expected to create opportunities for business and investment growth in the region.
The expo is projected to attract over 40 million visitors. After the event concludes, ERC plans to convert the expo's secured area into a global village, to serve as a multicultural centre for retail and dining. This development will also include an international residential community with various amenities, with a focus on sustainable tourism practices.
Expo 2030 Riyadh will run from 1 October 2030 to 31 March 2031.
In mid-May, MEED reported that Riyadh had begun talks with various stakeholders in preparation for the start of the construction works for the event.
The discussions were understood to have been held with the Royal Commission for Riyadh City and the PIF.
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Kharafi wins Egypt wastewater deal
19 June 2025
Kuwaiti contractor Mohamed Abdulmohsin Al-Kharafi & Sons has won a €69m ($79m) contract to design and build a new wastewater treatment plant (WWTP) in Tanta with a capacity of 100,000 cubic metres a day (cm/d).
Four other international and local contractors bid for the 30-month contract tendered by Gharbia Company for Water & Wastewater.
The aim of the project is to have an installed flow rate of 100,000 cm/d by 2037, expanded under a later phase to 150,000 cm/d by 2057.
The scheme is a core component of the $730m Kitchener Drain Depollution project funded by the European Investment Bank and the European Bank for Reconstruction & Development.
The programme’s aim is to depollute the Kitchener Drain, also called the Main Gharbia Drain, one of the main agricultural drains in the Nile delta. Some 69 kilometres long, the drain is the main source of irrigation water for about 193,000 hectares of agricultural land.
However, it is highly polluted due to poorly or untreated domestic wastewater discharge; uncontrolled municipal solid waste disposal into and along the banks of the drain; industrial wastewater discharges; and agricultural runoff.
Other significant projects under the programme include a $28m contract awarded in March 2024 to rehabilitate the Umm Tahoun, Arbaeen and Al-Suyah canals; a separate $40m deal to rehabilitate bridges across the drain and depollute the Beshbish, Sanbara and Shemy canals; and an estimated $70m contract to build new mechanical and biological treatment facilities with total capacity of 1,800 tonnes a day in the city of Defra, for which tender evaluation is under way.
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Oman receives dams funding
18 June 2025
The Islamic Development Bank (ISDB) has extended a $632m loan to the Ministry of Agricultural, Fisheries Wealth & Water Resources to fund the construction of four major flood protection dams in the sultanate.
The dam projects are:
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Each of the dam schemes will be open to bids from both local and international contractors, although it is unclear at this stage when the tenders will be issued.
Separately, contractors are preparing to submit technical and commercial bids by 23 June for the ISDB-funded project to build two flood protection dams at Wadi Al-Ansab, called ANS-02 and ANS-03.
The estimated $80m contract involves the following scope of work for each dam:
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- A plinth at the upstream toe of the dam and plastic concrete cut-off wall at the foundation
- Curtain/consolidation/contact grouting works along the cut-off wall, plinth at the abutments, spillway ogee structure and bottom outlet
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Potential bidders include:
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Contractors submit prices for QatarEnergy NGL train project
18 June 2025
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Contractors have submitted commercial bids to QatarEnergy for a project to add a fifth natural gas liquids (NGL) train at its NGL complex in Qatar’s Mesaieed Industrial City.
The objective of the project, which is estimated to be worth $2.5bn, is to build a fifth NGL train (NGL-5) with the capacity to process up to 350 million cubic feet a day of rich associated gas from QatarEnergy’s offshore and onshore oil fields.
Contractors submitted commercial bids for engineering, procurement and construction (EPC) works on the NGL-5 project by the deadline of 15 June, according to sources.
The following contractors are understood to be participating in the project’s main contract tendering process:
- CTCI Corporation (Taiwan)
- Larsen & Toubro Energy Hydrocarbon (India)
- McDermott (US)
- Saipem (Italy)
- Samsung E&A (South Korea)
- Tecnicas Reunidas (Spain)
- Tecnimont (Italy)
QatarEnergy initially set a deadline of the end of May for the submission of prices for the project.
MEED previously reported that QatarEnergy had received technical bids for the project from contractors by the deadline of 13 April.
QatarEnergy issued the expression of interest (EoI) document for the NGL-5 project in early June of last year, with contractors submitting responses by 24 June 2024, MEED previously reported.
QatarEnergy eventually issued the main EPC tender for the NGL-5 project in November 2024.
In the EoI document, QatarEnergy said that it had begun site preparation works for the project in the fourth quarter of 2023 and expected work to be completed in the first quarter of 2025.
Turkish contractor Iris Insaat is performing site preparation work on the project, according to regional projects tracker MEED Projects.
QatarEnergy intends to start operations at the NGL-5 facility by the second quarter of 2028.
Project scope
Associated gas from the PS1, PS2 and PS3 offshore fields and the Dukhan onshore field is processed at existing facilities in the NGL complex at Mesaieed – the FSP, NGL-1 and Qapco ERU units.
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- NGL fractionation
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- Propane refrigeration
- Acid gas enrichment
- Sulphur recovery
- Anti-flaring
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- Boil-off gas recovery
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- Carbon dioxide treatment and sequestration/ export
- Brownfield modifications
- Product rundown pipelines
QatarEnergy is understood to have divided the scope of work on the NGL-5 project into five EPC packages.
ALSO READ: QatarEnergy receives bids for new NGL train project
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