Oil major Shell (RDSa.L) has signed a five-year contract with PetroChina (601857.SS) to supply the Chinese company with carbon-neutral liquefied natural gas (LNG) cargos, Shell said on Monday. Many companies, particularly those in the fossil fuel industry are using tools such as carbon offsets to compensate for emissions they are unable to cut in their operations. read more For each cargo delivered under the agreement the two companies will “cooperate to offset life-cycle carbon dioxide equivalent (CO2e) emissions generated across the LNG value chain, using high-quality carbon credits from nature-based projects,” Shell said. Nature-based offset projects such as reforestation, protect, transform or restore land and enable nature to add oxygen and absorb carbon dioxide emissions. The announcement came as […]