For the first time, the Anglo Dutch firm, which is facing calls by activist shareholders to take stronger action on global warming, has mapped out how the world could hit the Paris climate deal’s target of keeping temperature rises below 2C.
While development of hydrogen cars has stalled in the face of rapid growth in battery-electric vehicles, Shell believes the gas could account for 10 percent of global energy consumption by the end of the century.
The company’s Sky scenario, published on Monday, envisages that as fossil fuel use declines, old oil and gas facilities will be repurposed for hydrogen storage and transport.
Shell has no large scale hydrogen production but is a major player in natural gas, from which hydrogen can be made. The company launched its first hydrogen refueling point in the U.K. last year and this week will open a second at a service station in Buckinghamshire.
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