While alternative energy sources will expand, more unconventional oil resources, such as oil shale and sands, will be needed.
"CO2 emissions are rising even faster than demand for energy," he said. "And unless we take quick action, the concentration of CO2 and other greenhouse gases in the atmosphere could reach levels which would have serious climate change consequences."
The industry is working to reduce energy use and CO2 emissions, while companies like Shell are developing commercial carbon and capture and storage systems, Ben noted.
But broad governmental agreement on policies and support are needed to accelerate the effective implementation of these technological solutions.
Despite these tough challenges, the Shell Chemicals Executive Vice President said: "We can and will develop new energy resources.
We can and will develop new feedstock routes. And we have already shown an ability to increase our energy efficiency and reduce the environmental footprints of our plants and processes.
"In the coming years, we will need to apply all our creative talents to the full, and in co-operation with the wider scientific community, other industries and governments, to make sustainability a reality.
"Given the growth and dynamism of Asia Pacific's petrochemicals industry, I expect to see developments in this region that will help transform our business and enable us to respond to the challenges we face.
The region's industry has a deep and growing pool of highly creative, capable and focused talent, and I can tell you that from a Shell perspective we are very excited about the future."
20240830145952.gif)
20240924091343.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
