Shell CEO Wael Sawan eyes biofuels and clean hydrogen opportunities in India

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.