The joint venture plans to build 6 to 10 hydrogen refuelling stations in Shanghai and the Yangzte River Delta in the next five years and scale up to 30 stations across the Yangzte River Delta by 2030. These 30 stations could provide hydrogen supply to approximately 3,000 fuel cell trucks or buses every day. Once built, the hydrogen refuelling network will help accelerate the fuel cell vehicle adoption in road freight, public transportation, municipal services, and ports areas in Shanghai and Yangzte River Delta, and support the development of Shanghai National Fuel Cell Vehicle Demonstration City Cluster.

The stations will use low-emission industrial by-product hydrogen from the local chemical industry in the short term, while the two parties will also explore opportunities in producing and supplying green hydrogen to these stations in the long term.

Huang Dinan, Chairman of Shenergy Group said: “Under the guidance of its carbon-peak and carbon-neutrality strategy, China is moving towards a clean, low-carbon, safe and efficient energy system. As an integrated energy company, Shenery Group maps path in hydrogen industry to support the strategy. In accordance with its strategic plan, Shenergy Group aims to build a full value chain that covers production, storage, transportation, refuelling and utilization of hydrogen. We hope to collaborate with Shell to give full play to our advantages, and co-build safe, reliable, and high-quality hydrogen infrastructures. Taking this as a starting point, we look forward to collaborating with more partners to support the development of hydrogen and contribute to the energy transition of Shanghai and China.”

Jason Wong, Executive Chairman of Shell Companies in China said: “Hydrogen will play an important role in reducing emissions of hard-to-abate sectors such as transport and heavy industry in China. It is also expected that hydrogen will scale up significantly and make up at least 5% of China’s energy system by 2030. We see opportunities across the hydrogen value chain in China. Through the partnership with Shenergy, we are glad to support the development of hydrogen in China and contribute to China’s carbon targets.”

Notes to editors

• Shanghai National Fuel Cell Vehicle Demonstration City Cluster was officially approved by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission and the National Energy Administration in China, in August 2021. Shanghai, as the lead in the integrated development of the Yangtze River Delta, teams up with six cities and regions, including Suzhou City and Nantong City in Jiangsu Province, Jiaxing City in Zhejiang Province, Zibo City in Shandong Province, Ningdong Energy and Chemical Industry Base in Ningxia and Erdos City in Inner Mongolia Autonomous Region, to jointly establish the "1+6" Shanghai City Cluster. The cluster will focus on technology breakthrough of key components, establishment of hydrogen refuelling networks, increase of incentives and subsidies and development of enabling policies, etc. The Shanghai Medium- and Long-term Hydrogen Development Plan (2022-2035) published in May, 2022 indicates that Shanghai targets to have around 70 hydrogen refuelling stations and more than 10,000 fuel cell vehicles by 2025. For more details, please refer to ; )
• The China Hydrogen Alliance, a government-supported industry group, predicts that hydrogen will make up at least 5% of China’s energy system by 2030, which is also in line with the analysis in Shell’s Scenario Sketch ‘Achieving a carbon-neutral energy system in China by 2060’. For more details, please refer to //eodvsale.com/en_cn/promos/energy-and-innovation/china-scenario-sketch/_jcr_content.stream/1642171116580/9c08ca486937fc6153a981cde04539f28f90f733/china-sketch-narrative.pdf
• On January 28, 2022, Shell started one of the world’s largest hydrogen electrolysers with 20 MW production capacity in Zhangjiakou, China. The project is part of a joint venture between Shell China and Zhangjiakou City Transport Construction Investment Holding Group Co. Ltd. Utilising onshore wind power, the electrolyser supplied approximately 100 tons of green hydrogen for more than 600 fuel cell buses in the Zhangjiakou Competition Zone during the Beijing 2022 Winter Olympic Games, accounting for more than 75% of supply during the event. After the Olympics, the hydrogen from this project is used for public and commercial transport in the Beijing-Tianjin-Hebei region, helping to decarbonise its mobility sector. For more details, please refer to:

About Shenergy

Founded in 1987, Shenergy grew into Shenergy (Group) Co., Ltd. in 1996, with a registered capital of RMB 20 billion. It is a wholly state-owned enterprise conglomerate invested and supervised by the Shanghai Municipal State-own Assets Supervision and Administration Commission.

Since its establishment, Shenergy has resolutely implemented the instructions of the Central Committee of the Communist Party of China (CPC), the State Council, the CPC Shanghai Municipal Committee and the Shanghai Municipal People’s Government, consistently safeguarded Shanghai's energy security and maintained and increased the value of state-owned assets as our core mission. By adhering to the business philosophy of "Determined Development and Steady Operation" and taking a firm footing in energy as our prime business, we have steadily expanded our areas of investment, and gradually developed into an integrated energy enterprise group spanning the fields of electric power, oil, gas, finance, and strategic emerging businesses.

Currently, Shenergy Group has over 200 wholly-owned and holding enterprises and employs more than 18,000 workers. Enterprises directly under Shenergy Group include Shenergy Co., Ltd. (600642.SH), Shanghai Gas, Orient Securities (600958.SH & 03958.HK), Shanghai Electric Cable Research Institute, among others. The Company has ranked among China’s TOP500 companies for 20 consecutive years.

About Shell in China

All of Shell's core businesses have grown considerably in China. Shell works with PetroChina and CNOOC to develop onshore and offshore oil and gas resources in China and overseas. This includes the Changbei onshore gas project, developed in collaboration with PetroChina. Shell is also one of the leading suppliers of LNG in China.

Shell operates a retail network of near 1,900 gas stations in China through joint ventures and wholly owned enterprises, with more than 3,000 charging points for electric vehicles. Shell has five lubricant blending plants and one grease production plant in China. It also operates a world-class petrochemical plant in the Daya Bay area of Huizhou City, Guangdong Province, in a joint venture with CNOOC.

Shell Energy (China) Co., Ltd. is an important part of Shell's global trading network, providing Chinese clients with a competitive and diversified LNG portfolio, power trading and carbon asset management and trading solutions. Shell Ventures has a dedicated team in China to accelerate innovation in the energy and mobility sector by investing in disruptive technologies and business models outside the company.

Enquiries

Media International: +44 207 934 5550
Media China: SCHINA-Spokesperson@shell.com

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2021 (available at and ). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, 29 July, 2022. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Shell’s net carbon footprint

Also, in this announcement we may refer to Shell’s “Net Carbon Footprint” or “Net Carbon Intensity”, which include 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 Footprint” or “Net Carbon Intensity” are 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 Footprint (NCF) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF 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

This announcement may contain certain forward-looking non-GAAP measures such as [cash capital expenditure] and [divestments]. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

The contents of websites referred to in this announcement do not form part of this announcement.

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website