Terms and expressions
Terms and expressions used in the series
Decarbonisation deals with the process of moving towards solutions that result in lower CO2 emissions – with the aid of renewable energy or low-carbon solutions such as hydrogen and carbon capture and storage.
CCS stands for carbon capture and storage; in Norwegian - karbonfangst og -lagring. This technology is based on capturing CO2 and storing this greenhouse gas securely, so that it is not released into the atmosphere.
CO2 – carbon dioxide is the most relevant greenhouse gas. It affects the atmosphere’s ability to retain heat, which means that the more CO2 that builds up in the atmosphere, the more temperatures on earth will rise, leading to many different climate impacts.
The energy transition relates to the change to a low-emission society. To achieve this, the world needs to make significant changes in the way we produce and consume energy. We need less fossil energy and more renewable energy, we need enhanced energy efficiency, and we also need to do more to develop and implement low-carbon solutions. The objective is to secure value creation and enough energy for everyone in the time ahead, and to ensure that growth and development can proceed within sustainable natural limits.
Energy efficiency means utilising energy resources to achieve maximum benefit; in other words – consuming less energy to accomplish a task.
Renewable energy means sources of energy that originate within the natural cycle and are continuously replenished. Some examples of renewable energy sources are hydropower, wind power and solar power.
Fossil energy refers to energy sources that occur naturally in the subsurface, and that were formed during earlier geological eras – such as natural gas, oil and coal. Fossil fuels are considered non-renewable energy sources.
Hydrogen is an energy carrier that can be used in instances where larger volumes of energy are required. It can also be used to store surplus energy from various energy sources such as natural gas, wind or solar energy.
Blue hydrogen is hydrogen that is produced using natural gas, oil or coal, where the CO2 emitted during power generation is captured and stored.
Green hydrogen is hydrogen that is produced using electricity from renewable energy sources, such as solar or wind power.
Grey hydrogen is hydrogen produced using natural gas, oil or coal, without CO2 capture.
Capacity is a term used to refer to the size of renewable energy projects. 1 gigawatt (GW) corresponds to 1 billion watts, and is the unit used to describe e.g. the capacity of a power plant or a wind farm. 1 TW is 1000 GW. The world’s current total developed renewable energy capacity is approx. 2.7 TW, in other words - 2700 GW.
Low-carbon solutions are solutions that reduce CO2 emissions – such as carbon capture and storage (CCS), hydrogen and electrification.
Net zero - netto nullutslipp - in Norwegian – and climate neutrality means achieving a balance between the volume of greenhouse gases that are emitted to, and removed from, the atmosphere. The Paris Agreement spells out that such a balance is necessary to ensure that the world meets its climate goals.
The Northern Lights project is part of the Norwegian effort to achieve full-scale carbon capture and storage (CCS), which we call Longship. This full-scale project will involve capturing CO2 from one or two industrial capture plants. The Northern Lights project includes transport, receiving and permanent storage of CO2 in a reservoir in the northern part of the North Sea.
ONS – “Offshore Northern Seas” – is an energy exhibition held every two years in Stavanger. It was previously called the “oil exhibition”, but today it has evolved into an arena where players spanning all energy sectors can meet.
The Paris Agreement is a legally binding international treaty from 2015, signed by 196 countries. The primary objective of the Paris Agreement is to curb global warming.
The 2-degree target in the Paris Agreement entails a general agreement by the countries that average global temperatures must not increase more than 2 degrees over pre-industrial levels.
The 1.5-degree target relates to the agreement that all countries must exhaust every effort to ensure that temperatures do not rise more than 1.5 degrees.
Five ways Equinor contributes to a net zero society:
- Equinor commits to reducing emissions from oil and gas production.
- Equinor increases investments in renewable energy and is developing a profitable renewables business.
- Equinor invests in new technology to create and build new low-carbon markets, value chains and industries.
- Equinor will invest in natural carbon sinks.
- Equinor uses its voice to support the objectives of the Paris Agreement, as well as policies that contribute to achieving the net zero goal for society as a whole.