We aim to remain an industry leader in carbon efficiency by emitting as little CO2 as possible, from each barrel of oil equivalent produced. To achieve this, we assess carbon intensity when we shape our portfolio and implement emission reduction measures in our operations.
Equinor aims to reduce the upstream CO2 intensity of our globally operated oil and gas production to below 8kg CO2/barrel of oil equivalent (boe) by 2025. The current global industry average is 17kg CO2/boe.
In 2020, our upstream operated CO2 intensity improved from 9.5 to 8.0 kg CO2/boe. This positive development is largely a result of increased production levels from Johan Sverdrup, which is electrified and therefore has minimal emissions, and also increased gas export from the Troll field. In addition, the Peregrino field in Brazil, was shut down for most of the year, resulting in a further reduction in Equinor’s overall upstream carbon intensity.
Climate Initiative Norway
Equinor aims to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40% by 2030, 70% by 2040 and to near zero by 2050. By 2030 this implies annual cuts of more than 5 million tonnes, corresponding to around 10% of Norway’s total CO2 emissions. The Norwegian Government has requested Equinor and the industry to further strengthen the ambition level for 2030 from 40% to 50%, which is currently being assessed.
The 2030 ambition is planned to be realised through large scale industrial measures, including electrification, energy efficiency and digitalisation. This is expected to require USD 5-6 billion (NOK 50 billion) of investment from Equinor and its partners. Further reduction towards 70% in 2040 and near zero in 2050 will entail additional measures, further electrification projects, consolidation of infrastructure as well as opportunities to develop new technologies and value chains.
Scope 1 and 2 emissions
Our business areas are implementing several emission reductions measures on a regular basis, including better energy management, improved technical design, electrification and efforts to minimise methane emissions and flaring. Equinor’s total GHG scope 1 and scope 2 emissions decreased with 1.4 million tonnes in 2020 compared to 2019 due to energy efficiency projects, changes in the portfolio and adjusted activity level.
Targeted energy efficiency measures and management have reduced Equinor’s scope 1 emissions by almost 0.3 million tons in 2020. A wide range of measures, large and small, have been implemented both onshore and offshore, and within logistics.
Equinor continues to focus on eliminating routine flaring in all our operations by 2030 at the latest, in line with the World Bank’s Zero Routine Flaring by 2030 Initiative. We do not have routine flaring in our operations in Norway, Brazil or offshore in the US. We expect Mariner to achieve zero routine flaring during 2022.
Equinor is a buyer, producer and seller of marine fuels, and is committed to utilising its unique position to contribute to the decarbonisation of the maritime sector.
Read more about how we reduce our maritime emissions.