Mr. Panun Prachuabmoh - Country Chairman and Chief of Financial Officer of Shell and Mr. Boonyanit Wongrukmit - Governor of EGAT signed a Memorandum of Understanding (MOU) to exchange knowledge and collaborate in a study of clean energy technologies such as Carbon Capture and Storage (CCS), Carbon Capture Utilization and Storage (CCUS), and electricity generation from renewable sources on March 10th, 2023 at EGAT 50th Anniversary Building, EGAT Headquarters, Nonthaburi Province.

Mr. Boonyanit Wongrukmit - Governor of EGAT said that Thailand had committed in the United Nations Climate Change Conference 26 (COP 26) to achieve Carbon Neutrality by 2050 and Net Zero Emissions by 2065. With such commitment, EGAT has implemented “Triple S” strategy comprising:

  1. Source transformation: increase renewable energy share in the generation mix and develop new technologies to support renewable electricity generation;
  2. Sink Co-creation: increase nature-based solution coverage through reforestation in 1 million rai of land and a study of CCUS technology; and
  3. Support Measures Mechanism: enhance public participation in greenhouse gas reduction through Energy-Saving Label No.5 Project and Green Classroom Project as well as promote EV deployment.

For this collaboration, it is a study for clean energy, CCUS, hydrogen fuel, and ammonia as alternative sources of power generation. These various technologies could help reduce carbon emission into the atmosphere. However, Thailand will still rely on electricity generation from fossil fuel to ensure energy security and meet domestic demand. Nevertheless, the result of this collaboration will be applied to power plants and other future projects within EGAT toward Thailand’s development and as a part of resolving global environmental issues.

Mr. Panun Prachuabmoh - Country Chairman and Chief of Financial Officer of Shell - said that Shell was driving business under “Powering Progress” strategy with various on-going projects around the world such as carbon emission reduction in Shell own operation, carbon credit, renewable energy trading, and research and development in hydrogen fuel and ammonia. For CCUS technology, Shell has been operating and developing in more than 10 sites worldwide. This MOU is a result of the determination of both Shell and EGAT in carbon reduction. Shell believes that the capacity of Thailand and capabilities of Thai people together with knowledge and expertise of both Shell and EGAT will promote quality of life of the Thai citizen and further drive Thailand toward Net Zero Emission by 2065.

People in picture (from left to right):

  1. Thidade Eiamsai - Deputy Governor – Power Plant Development and Renewable Energy, EGAT
  2. Boonyanit Wongrukmit – Governor, EGAT
  3. Panun Prachuabmoh - Country Chairman and Chief of Financial Officer, Shell
  4. Kamolpat Baholyodhin - Executive Director - Lubricants Business, Shell

For Media Enquiries:

Nicha Tiratithsakul
Corporate Relations
The Shell Company of Thailand Limited
M +662 262 7487

Cautionary note

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Forward-Looking Statements

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Shell’s net carbon intensity

Also, in this announcement we may refer to Shell’s “Net Carbon Intensity”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Intensity” is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s net-Zero Emissions Target

Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward Looking Non-GAAP measures

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