Shell’s quarterly report has shown that the company is taking significant steps to invest in energy security and in the transition to low carbon energy.

The company has demonstrated a strong commitment to the reduction of emissions going forward and has managed to reduce scope 1 and scope 2 carbon emissions by 32 per cent compared to Q2 2013. In the same period, teams managed to reduce process safety incidents by 83 per cent.

In a video presentation, CEO Ben van Beurden acknowledged that the last quarter has been a turbulent time world-wide, acknowledging a number of major factors that have contributed to the increased cost of living, especially with regards to the price of oil and gas.

The company has also announced the final financial decisions with regards to the Crux field in Australia, a project which will provide gas to Shell’s floating LNG facility, Prelude. The decision to approve the development of the gas field was reached alongside Shell’s joint venture partner, SGH Energy.

When compared to the first quarter of 2013, Shell’s adjusted earnings are up 65 per cent.

“Our company is truly changing. It’s transforming for the future, and we are setting ourselves up for success in that transformation,” said van Beurden.

“We are using our financial strength to benefit society through secure energy supplies,” said van Beurden.

Subscribe to Oil and Gas Today for the latest project and industry news.