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Cash capital expenditure

Cash capital expenditure was $3.8 billion in 2022, compared with $5.2 billion in 2021.

Cash capital expenditure decreased by $1.4 billion, mainly because of lower spend on the construction of our cracker facilities in Pennsylvania, USA and lower turnaround. Our cash capital expenditure is expected to be around $3 billion to $4 billion in 2023.

Portfolio and business developments

Significant portfolio and business developments in 2022 included:

  • In October 2022, Shell USA, Inc. and Shell Midstream Partners, L.P. completed the definitive agreement and plan of merger announced in July 2022, pursuant to which Shell USA, Inc. acquired all of the common units representing limited partner interests in Shell Midstream Partners, L.P. not held by Shell USA, Inc. or its affiliates.
  • In November 2022, we commenced operations of our Pennsylvania Chemical project, Shell Polymers Monaca (SPM). The Pennsylvania facility is the first major polyethylene manufacturing complex in the north-eastern USA and has a designed output of 1.6 million tonnes annually.