UK-based LNG giant Shell said on Monday that Steve Hill, executive vice president of Shell Energy, has decided to leave the company.
“He will leave behind a strong team and a well-positioned portfolio. We thank him for his significant contribution and wish him well in his future endeavours,” Shell said in a an emailed statement.
“Steve will hand over his responsibilities – and his successor will be announced – in the coming weeks,” the company said.
Shell Energy is responsible for Shell’s global LNG, natural gas, power and environmental products marketing and trading business.
According to Hill’s LinkedIn profile, he became executive VP of Shell Energy in February 2016 after Shell acquired BG.
Shell reported a drop in its adjusted earnings in the fourth quarter last year, while its LNG sales rose compared to the same period in 2022.
The company sold 18.09 million tonnes of LNG in the October-December period, a rise of 7.5 percent, while it sold 67.09 million tonnes of LNG during 2023, a rise of 2 percent compared to 65.98 million tonnes in 2022.
Shell recently said that global demand for LNG is estimated to rise by more than 50 percent by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth.