Global energy giant Royal Dutch Shell Plc has announced plans to triple the number of gas stations it has in China to 3,500 by 2025. This comes after the recent lifting of restrictions on foreign investment in the sector.
Downstream director of Royal Dutch Shell, John Abbott said; “Shell is already the leading international oil retailer in China, running 1,300 sites via strategic joint ventures and two wholly owned companies, and we aspire to triple the size of our network by 2025.”
Abbott included that non-fuel retailing is an area that Shell is developing in a big way and we are piloting high-quality convenience stores in our retail stations in China too.
He stated that China is one of the company’s key markets in terms of downstream sector growth, which includes providing fuels, lubricants and petrochemicals.
According to Abbot, Shell will continue to employ the joint venture, wholly foreign-owned enterprise or dealership models, whichever is most competitive and best serves its customers.
This year, Shell opened its first liquefied natural gas refilling station in Xianyang, Shaanxi province, and is looking to pilot electric vehicle charging in China.
China Daily informed stated that many international oil giants have expressed willingness to continue investing in China.
British oil and gas multinational BP also said that it plans to more than double its gas station network in China by adding 1,000 more outlets in the next five years, in response to the lifting of foreign ownership limits.
Source: China Daily