It is too early to be optimistic about energy prices, even after the recent rise in the price of gas. That’s what Maarten Wetselaar says, manager at Shell at a virtual Gastech summit. According to him, government stimulus measures will end at some point, and economic recovery will depend on the availability of a vaccine for the coronavirus.
Wetselaar also said that Shell gas, and especially liquefied natural gas, still sees as an important factor in the energy transition. Shell’s total gas business is shrinking this year. Also, according to manager, it is increasingly difficult to find investors for oil projects. He finds the price of oil quite artificial.
“There’s a lot of repressed demand and a lot of repressed supply. Where they meet is a coincidence.”