Shell and the Transition to Net Zero

The Russian aggression against Ukraine is of momentages unprecedented since the Second World War. It also triggered an energy crisis which might well become more serious than the 1970s oil shocks. Russia for decades was the largest hydrocarbon exporter in the global economy. And other decades of infrastructure and contractual dependency between Europe and Russia. Such a relationship is built on a foundation of trust and the Russian aggression completely destroyed that foundation. So it is a very serious supply shock for the entire global economy, triggering strong spill over effects in the entire energy system.