LNG giant Shell starts trading under simplified structure

LNG giant Shell has started trading with a single line of shares, completing its simplifaction process which included moving its headquarters from the Netherlands to Britain.

Last month, Shell officially removed “Royal Dutch” from its name, as part of plans to ditch the company’s dual share structure.

Shell revealed these plans in November saying the move would simplify the company’s share structure to increase the speed and flexibility of capital and portfolio actions.

The company’s new shares started their dealings on the Euronext Amsterdam, the London Stock Exchange, and the New York Stock Exchange on Monday.

Shell said the assimilation has not altered the total number of shares held by any shareholder or ADSs held by any ADS holder.

Chief executive Ben van Beurden said in a statement that a simpler structure would, “enable us to speed up the delivery of our Powering Progress strategy while creating value for our shareholders, customers, and wider society.”

“We are working on the biggest societal and technological changes of modern times. This year will be another pivotal year in our transformation. And we are ready to take on the challenge,” he said.

Most Popular

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

More News Like This

Shell’s LNG Canada expansion project to get boost from government

Canadian Prime Minister Mark Carney named the planned second phase of Shell's LNG Canada export project as one of the major projects the federal government would help fast-track.

Shell seals Hungarian gas supply deal

UK-based LNG giant Shell has signed a deal with Hungarian gas trader MVM CEEnergy to supply the latter with natural gas for 10 years.

Shell, Hapag-Lloyd seal bio-LNG bunkering deal

A unit of UK-based LNG giant Shell has signed a deal with Germany's Hapag-Lloyd to supply the latter's dual-fuel container vessels with bio-LNG.

Peru LNG sent four cargoes in August

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped four liquefied natural gas cargoes in August, one less than in the previous month.