• Shell CEO, chair laud LNG as "low carbon"
• Activist resolution questioning LNG strategy gets 21% support

LONDON, May 20 (Reuters) - Shell (SHEL.L) , opens new tab shareholders on Tuesday re-elected Chair Andrew Mackenzie and CEO Wael Sawan, who said when asked about a potential deal for rival BP (BP.L) , opens new tab that the bar for mergers and acquisitions was very high.

Media reports earlier this month suggested Shell was working with advisers to evaluate a potential acquisition of BP.

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Sawan won the support of 98.7% of shareholders at Shell's annual general meeting and Mackenzie of 91.4%. In contrast, BP Chair Helge Lund only received 76% at its AGM after years of share underperformance, and is set to leave his post in the coming months.

Echoing previous comments when asked about media reports that Shell was studying a bid for BP, Sawan said Shell's current share price makes buybacks an especially attractive way of spending money.

A shareholder resolution asking Shell to provide further information on its strategy to boost LNG sales, and how this is compatible with goals to cut carbon emissions, received around 20.6% support.

"LNG will be the biggest contribution Shell will make to the energy transition," Sawan told shareholders, pointing to the option of replacing more polluting fuels like coal with gas.

"LNG is a versatile low-carbon fuel that is going to be essential for the energy transition."

The majority of natural gas is made up of methane, a greenhouse gas and significant contributor to climate change alongside carbon dioxide.

All other board members, including Finance Chief Sinead Gorman, were also re-elected.

https://www.reuters.com/business/energy/re-elected-shell-ceo-asked-about-bp-says-bar-deals-is-high-2025-05-20/