Shell CEO Wael Sawan eyes biofuels and clean hydrogen opportunities in India
In an exclusive interview with CNBC-TV18, the Shell CEO sheds light on the burgeoning biofuels sector in India. Sawan expressed optimism about the country's potential, citing favourable government policies and increasing demand as key factors.
Shell CEO Wael Sawan on Wednesday, February 21, expressed excitement for the burgeoning biofuels sector in India, citing the country's favourable government policies and increasing demand as key drivers. However, he maintained cautious optimism about India's biofuels prospects due to the challenges posed by the crowded marketplace.
"We're excited about the opportunities," Sawan said during an exclusive interview with CNBC-TV18. "Under the Prime Minister's leadership and his vision to drive the biofuels business, the mandates that are coming in place, up to 5% soon and more thereafter, are creating the right pool."
Shell, known as the largest player in biofuels globally, has significant production in Brazil and has recently invested in renewable natural gas in Europe.
While Sawan maintained cautious optimism about India's biofuels prospects due to the presence of multiple players, he remained confident in the country's strategic potential. He highlighted ongoing discussions with Indian stakeholders to explore opportunities in the biofuels space, emphasising Shell's efforts to expand capabilities amidst market competition.
"When we look at India, you have the right government policy, feedstock availability, and massive demand," Sawan noted. "And so what we need to be able to understand is, where can we compete here? What technology can we uniquely bring? And what capabilities can we bring? Or is there no space for us? And that's what we're trying to look at, at the moment," he added.
Shell CEO also discussed the role of clean hydrogen in the future energy landscape, stressing the importance of reducing costs and the need for affordable power to produce green hydrogen.
"I think green hydrogen or for that matter, clean hydrogen, whether it's green, or blue or otherwise, is an exciting part of the future energy system." He sees this as an opportunity to invest in India. "...the world is desperate for green hydrogen, and all forms of low carbon solutions."
"We see opportunities for us to also invest in India; companies like ours have been embraced in India... success in India will allow the demand side globally, to start to materialise. You have countries like Germany that are talking about shifting to a green hydrogen economy, and you have Japan and Korea that are keen and green hydrogen, so the more we can build supply bases, the more that demand starts to materialise, and the more you have a market to be able to work around," he said.
(Edited by : Anushka Sharma)
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