Equinor’s strategic direction is very clear. We are developing as a broad energy company, and we are becoming a global industry leader in offshore wind.
We know that the world’s energy system must be transformed in a profound way to achieve decarbonisation, and we are proud to be taking part in the greatest transition of energy systems the world has ever seen.
We believe energy should not only be secure and sustainable for all, but also competitive.
Equinor has launched a climate roadmap aiming to ensure a competitive and resilient business model in the energy transition, fit for long term value creation and in line with the Paris Agreement.
We aim to:
- reduce the net carbon intensity, from initial production to final consumption, of energy produced by at least 50% by 2050,
- grow renewable energy capacity tenfold by 2026, developing as a global offshore wind major, and
- strengthen our industry leading position on carbon efficient production, aiming to reach carbon neutral global operations by 2030.
We are now looking 30 years into the future, and it is not possible to predict an exact shape and pace of the transition. Not for society and not for us. But we know there will have to be significant changes in the energy markets, and our portfolio will change accordingly to remain competitive. We will produce less oil in a low carbon future, but value creation from oil and gas will still be high, and renewables give significant new opportunities to create attractive returns and growth
As we transition into a broad energy company, we’re taking a step-change in making renewables profitable and economically sustainable. We already have much of what it takes, and we believe our oil and gas expertise can be leveraged to create business opportunities in the ongoing energy transition:
- We have a strong safety culture
- Capabilities to deliver large and complex projects
- Experience from marine operations and maintenance
- Focus on technology and innovation