WEBVTT - Preview: Shell CEO Wael Sawan on 'Peak Oil Demand'

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<v Speaker 1>Next week on Leaders with Me, Francin Laquin I speak

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<v Speaker 1>to Wells on the CEO of Shell. I'm really excited

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<v Speaker 1>about you listening to this interview because he doesn't give

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<v Speaker 1>many sit downs. We talked about pivoting away from renewables,

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<v Speaker 1>key investment decisions, and his outlook for energy demand. Here's

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<v Speaker 1>a portion of that conversation.

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<v Speaker 2>And as we go into the energy transition, as we

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<v Speaker 2>go into the world that we're going into, also with

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<v Speaker 2>the advent of AI and how you leverage AI and

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<v Speaker 2>what we do with some of the challenges we see

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<v Speaker 2>on the geopolitical level, we have an opportunity to be

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<v Speaker 2>able to have the humility to actually step back and reflect.

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<v Speaker 2>How do we change, how do we challenge the paradigms

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<v Speaker 2>we have had in the past, and how do we

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<v Speaker 2>come up with new ways of being able to steward

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<v Speaker 2>the company.

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<v Speaker 1>If you look at the numbers of how much energy

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<v Speaker 1>we need also to just face the data centers and

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<v Speaker 1>AI usage, I mean, the numbers are so big it's

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<v Speaker 1>almost difficult to get your head round it. Do you

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<v Speaker 1>have to be a predictor of that? Do you have

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<v Speaker 1>to see the future or do you need to just

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<v Speaker 1>react in a way that's in your control.

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<v Speaker 2>I think you have to have a clear view of

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<v Speaker 2>the energy system, and I would agree with your frenzy,

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<v Speaker 2>and I think at the end of the day, we

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<v Speaker 2>see that primary energy demand is going to continue to

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<v Speaker 2>grow for quite some time by a lot, and it's

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<v Speaker 2>been happening. I mean, people talk about energy transition. Of course,

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<v Speaker 2>what we have been seeing is energy addition. We are

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<v Speaker 2>at peak oil demand, peak coal demand, peak as demand,

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<v Speaker 2>peak renewables demand, peak biodemand the world is trying to

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<v Speaker 2>get its hands on all forms of energy for many

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<v Speaker 2>of the reasons that you talked about. So while we

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<v Speaker 2>cannot predict the future, we have scenarios around where the

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<v Speaker 2>world might go. What we can do is sort of

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<v Speaker 2>really make some very clear, deterministic bets on the future.

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<v Speaker 2>One is gas. For us, for example, we see gas

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<v Speaker 2>as being a stabilizing force in energy systems that continue

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<v Speaker 2>to transform. That allows us to be able to say, okay,

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<v Speaker 2>we are one of the biggest, we are the largest

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<v Speaker 2>international player in LERG, and make sure that you continue

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<v Speaker 2>to play that with lower and lower methane emissions, but

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<v Speaker 2>really be there to give our customers that versatile, reliable

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<v Speaker 2>feel that they seek.

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<v Speaker 1>That was part of my conversation with the shell Coo

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<v Speaker 1>Wells One. The full episode will be out on Monday,

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<v Speaker 1>April thirteenth. Please subscribe and share with friends.