Shell and TravelCenters of America to Develop Nationwide LNG Commercial Fueling Network
HOUSTON, April 15, 2013 /PRNewswire/ -- Shell and TravelCenters of America LLC (TA) have finalized an agreement to develop a U.S. nationwide network of liquefied natural gas (LNG) fueling centers for heavy-duty road transport customers.
The plan is to construct at least two LNG fueling lanes and a storage facility at up to 100 existing TA and Petro Stopping Centers branded full service travel centers along the U.S. interstate highway system. Construction and opening of the LNG stations will be done in a phased approach. Pending customary approvals, we anticipate the first of these stations will be operational in roughly one year's time with a priority to develop the main trucking corridors to provide the potential for the first-ever coast-to-coast LNG-fueled commercial transport network.
"Shell is investing now in the infrastructure that will bring this innovative, cost-competitive and environmentally beneficial fuel to our customers", said Elen Phillips, Vice President, Shell Fuels Sales & Marketing Americas. "We are leveraging our strength as an integrated company to produce, liquefy, distribute and commercialize natural gas in transport - and TravelCenters of America is the ideal partner to help us bring this vision to life."
Demand for innovative fuels, like LNG, from commercial customers is growing due to the wide range of benefits for trucking fleet operators. These benefits can include lower fuel costs, the potential to reduce emissions as well as reduce noise levels in certain engines.
"We see great potential for LNG as a fuel option among our range of quality fuels, due to the sheer abundance and affordability of domestic natural gas in North America", concluded Phillips.
About Shell and LNG Fuels
Shell has been working to develop the LNG for Transport market globally. Last year, we announced our intention to collaborate with TA and today's finalization of that agreement is a major step toward making LNG fuels a reality for the U.S. heavy duty road customers. Shell is also developing LNG stations at Flying J truck stops in Alberta, Canada - the first of which opened this year.
In March, Shell announced it will invest in two small-scale LNG production units that form the basis of two new LNG transport corridors in the Great Lakes and Gulf Coast regions that will provide LNG to marine and heavy duty road customers. This brings the total to three planned Shell LNG production units dedicated to transport in North America.
Shell's acquisition of Gasnor, the Norwegian LNG fuel company and the launch of the world's first 100% LNG powered barge on the Rhine are further examples of Shell's confidence in LNG as a fuel option for commercial customers.
All of these announcements help demonstrate how Shell is moving forward in its strategy to develop a global LNG fuel sales business for commercial customers.
NOTES TO EDITORS:
Natural gas could play an important role in helping to meet the world's rising transport needs. It can be cooled to make a liquefied natural gas to power ships and heavy duty trucks. LNG also has the potential to be used in sectors such as rail and mining and we are looking at options to increase its use in our own operations.
Additional information on Shell and Natural Gas for Transport and is available at www.shell.com/gasfortransport.
About Shell Oil Company
Shell Oil Company is an affiliate of the Royal Dutch Shell plc, a global group of energy and petrochemical companies with 93,000 employees in more than 90 countries. We deliver a diverse range of energy solutions and petrochemicals to customers worldwide. These include transporting and trading oil and gas, marketing natural gas, producing and selling fuel for ships and planes, generating electricity and providing energy efficiency advice.
We also produce and sell petrochemical building blocks to industrial customers globally, and we are investing in making renewable and lower-carbon energy sources competitive for large-scale use. In the U.S., we operate in 50 states and employ more than 20,000 people delivering energy in a responsible manner.
Shell Cautionary Note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this press release "Shell", "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this [report] refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Companies over which Shell has joint control are generally referred to "joint ventures" and companies over which Shell has significant influence but neither control nor joint control are referred to as "associates". In this press release, joint ventures and associates may also be referred to as "equity-accounted investments". The term "Shell interest" is used for convenience to indicate the direct and/or indirect (for example, through our 23% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This press release contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'', ''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'', "schedule", ''seek'', ''should'', ''target'', ''will'' and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell's 20-F for the year ended December 31, 2012 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, April 15, 2013. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
We may have used certain terms, such as resources, in this press release that United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.
SOURCE Shell Oil Company
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