Speaking to The Australian, a Shell spokesperson said the company “looks forward to expanding our range of energy products as opportunities arise.”
“Shell continues to focus on supplying natural gas to Australian retailers and large industrial users,”they said.
“As the cleanest-burning hydrocarbon, natural gas remains an essential component of Australia’s long term energy mix and a natural partner to intermittent renewable energy sources.”
Shell is focusing on providing gas to energy consumers, including retailers and large industrial users, as it looks to combine fuel with renewables; however, it is the company’s potential entry into domestic retail electricity market which is being monitored by the likes of Origin Energy, AGL Energy and EnergyAustralia.
The three companies hold large retail market shares in many states and control more than 60 per cent of capacity in New South Wales, Victoria and South Australia.
The publication also reported that Shell Energy Australia Vice-President Tom Summers, whose responsibilities included an oversight of the company’s marketing and trading businesses within its gas and power unit, will be returning to the UK to take up another position within the company.
The decision comes as forecasts predict domestic gas contract prices are set to rise significantly by the end of the year, according to the publication.
Mr Summers’ replacement is expected to be announced within weeks.