Shell and Baker Hughes sign energy transition MoU
HOUSTON, November 11, 2021 – Shell and Baker Hughes have signed an MoU to collaborate on achieving joint targets for net-zero carbon emission by 2050, both companies announced on Wednesday.
The move will see Shell providing Baker Hughes’ facilities with renewable energy credits, which will see the US-based oilfield services company’s global consumption of renewable energy initially rise by 2% to 24%.
Shell will also provide up to 100 GWh of renewable power to Baker Hughes’ European facilities and explore development of on-site solar energy on the company’s chemical blending plant in Singapore.
In return, Baker Hughes will develop low-carbon and digital technology for Shell’s LNG fleet and worldwide assets.