Shell recently announced the departure of Steve Hill, the head of liquefied natural gas (LNG), natural gas, and power trading, who has decided to leave the company. Hill, who joined Shell in 2016 following the acquisition of rival BG Group, will officially step down on March 28. Shell confirmed that Hill’s successor will be named in the coming weeks as he transitions out of his current role.
As the leader of Shell Energy, responsible for overseeing business-to-business LNG, gas, and power trading within the downstream division, Hill played a pivotal role in shaping Shell’s position as the world’s largest LNG trader. In 2023, Shell accounted for nearly 17% of global LNG trading volumes, amounting to 404 million metric tons.
Earlier this year, Tom Summers was appointed to head the LNG trading division under Hill’s leadership. The trading operations under Hill’s tenure have delivered significant profits in recent years, capitalizing on market volatility triggered by events such as Russia’s invasion of Ukraine in 2022.
Despite notable successes, including a $2.4 billion profit contribution from Shell’s LNG business in the fourth quarter of 2024, not all ventures proved lucrative. Reports indicated that Shell’s trading division incurred a substantial loss of nearly $1 billion in the third quarter of 2022.
While Shell did not disclose Hill’s future plans, his departure marks a significant transition within the company’s leadership in the LNG, gas, and power trading sector. Hill’s departure comes at a critical juncture for Shell as it navigates evolving market dynamics and strategic priorities in the energy sector.
Focus Phrase: Transition in Leadership: Shell’s LNG, Gas, and Power Trading Head Moves On