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Friday, December 8, 2023

GE Capital and Shell Canada jointly agree to help expand LNG

GE Capital, Canada announced today that it has signed a commercial agreement with Shell Canada products to facilitate the truck industry’s adoption in Canada of liquefied natural gas (LNG).

Under the agreement, GE Capital and Shell will work together to reduce monthly payments for fleets that lease natural gas vehicles (NGVs). Specifically, fleets owners can sign natural gas fuelling contracts with Shell and, separately, secure leases for LNG vehicles with GE Capital. The agreement also covers equipment that will purchase fuel from Shell’s facilities.

“Through this agreement, we’re giving over-the-road trucking companies the financial incentive to make the shift from diesel to natural gas,” said François Nantel, leader of GE Capital. “Working with Shell will help address truck operators’ concerns regarding the trucks’ value and incremental capital investments and allow them to access the benefits of LNG vehicles from day one.”