Shell’s (LSE: SHEL) share price may be at an all-time high, but former CEO Ben van Beurden believes the company is “massively undervalued” on the London Stock Exchange (LSE).

Speaking at a commodities summit, van Beurden pointed to advantages enjoyed by US-listed oil and gas companies, as reported by the Financial Times. These include deeper pools of capital, higher valuations, and generally more positive investor sentiment towards the sector.

This perceived gap between European and US markets is a long-standing issue, according to van Beurden, and may not be easily resolved. “The share price today is at an all-time high, but it could be significantly higher from where it is today,” he said.

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Van Beurden’s comments echo recent remarks by Shell’s current CEO, Wael Sawan. Sawan expressed concerns about Shell’s valuation in London and revealed the company is exploring “all options” for its listing.

Shell, Britain’s most valuable listed company at around £182 billion, could be the latest major corporation to depart the LSE. The exchange has faced difficulties attracting new listings and has seen high-profile exits in recent years.

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