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Energy Transition Plan

Our roadmap to a net zero future

The world’s energy systems are transforming to meet the challenges of climate change, energy security and affordability. At Equinor, we are dedicated to delivering energy the world needs today, while developing energy solutions for tomorrow. Our ambition is to be a leading company in the energy transition and to achieve net zero emissions in 2050.

Our plan

Our Energy Transition Plan, originally published in 2022 and now updated in 2025, is aligned with our purpose, shaped by our ambitions, and driven by our actions. It outlines how we execute our strategy to optimise the oil and gas portfolio, deliver high value growth in renewables, and develop new market opportunities in low carbon solutions. The plan gives information about our strategy, our actions, and how we manage climate-related risk to ensure resilience and value creation. It reflects our long-term business opportunities in the transition and outlines our pathway to net zero in 2050 as well as our transition ambitions in the short, medium and long-term.

Energy transition plan 2025
Our strategic direction remains firm. Our focus is on producing the energy the world needs today, and at the same time developing the energy systems needed for the future
Anders Opedal. CEO of Equinor
Anders Opedal
Equinor President and Chief Executive Officer
Equinor's strategy: Always safe. High value. Low carbon

A strategy for transition and growth

Equinor is dedicated to long-term value creation in support of the goals of the Paris Agreement. We aspire to take a leading role in the energy transition and achieve net zero in 2050. Our strategy focuses on three areas: optimised oil and gas production, high value growth in renewables, and new market opportunities in low carbon solutions. This approach aims to capture the opportunities in the energy transition.

Our transition ambitions

  • Oil & gas illustration

    50%

    Net reduction in operated
    (scope 1+2) emissions
    by 2030*

  • Wind turbine illustration

    10-12 GW

    Installed renewable energy capacity by 2030

  • Subsea illustration

    30-50 million

    Tonnes of CO2 per annum transport & storage capacity by 2035

  • Equinor energy illustration

    Net Zero 2050

    Reducing Net Carbon Intensity by 30-40% by 2035 (scopes 1, 2 & 3**)

* Base year 2015; Equinor operated (100% basis); 90% to be met through absolute reductions
** Includes scope 3 emissions from use of energy products that we produce

Building resilient businesses for the future

Emissions reductions

Equinor has demonstrated industry leadership in carbon-efficient oil and gas production, while reducing our upstream emissions through electrification and efficiency innovations. We have reduced our operated emissions by 34% in 2024 compared with 2015, while increasing production. Even with an expected rise in production to 2.2 million barrels per day by 2030, on track to our ambition of 50% by 2030. In 2024, we achieved a record-low upstream CO2 intensity of 6.2 kg CO2 per barrel of oil equivalent, less than half of the industry average, and close to our 2030 upstream intensity target of 6 kg CO2e/boe. We also aim to maintain our near-zero methane and upstream flaring intensities towards 2030.

Renewable power generation

By focusing on disciplined, value-driven growth in key markets, we have built a gigawatt-scale renewable energy portfolio and project pipeline, with 7 GW of capacity installed or under development (2024), aiming for 10-12 GW by 2030. We currently have three strategic megaprojects in construction: Dogger Bank A, B, C (UK), Empire Wind 1 (US) and Bałtyk 2&3 (Poland). When completed, these three offshore wind farms will have the capacity to power around 9 million homes.

CO2 transport and storage

We have significantly advanced our low-carbon solutions business. We have secured licences with up to 60 mtpa of CO2 storage potential in Norway, Denmark and the USA. The Northern Lights facility in Norway is ready to receive CO2, with final investment decisions taken on the Northern Endurance Partnership and Net Zero Teesside Power in the UK. We aim for CO2 transport and storage capacity of 30-50 million tonnes per annum by 2035.

Net zero progress

We aim to reduce the net carbon intensity of the energy products we produce by 15-20 percent by 2030 and 30-40 percent by 2035, on our way to net zero by 2050.

We will continue to measure progress towards our transition ambitions, and to report our progress in the Integrated Annual Report.

A just transition

For Equinor, how we do business is as important as what we do. We are committed to contributing to a just and inclusive transition that delivers long-term social and economic benefits while protecting biodiversity and nature.

Read more on our approach to a just transition

People and nature

The energy transition requires a balanced approach that considers the impacts of climate measures on people, nature, and society. Nature loss is happening faster and on a larger scale than ever before. Climate and nature are interconnected and must be addressed together. For climate policies to be sustainable, they need support from the broader society. Equinor supports a transition that is balanced, just and inclusive, aiming for long-term social, economic and human rights benefits for the workforces and communities where we are present.

Technology pioneer:

The world’s first floating wind farm to power oil & gas installations

In 2023, Hywind Tampen started operations. It is the world’s first floating wind farm powering offshore oil and gas installations. Gullfaks and Snorre are the first oil and gas fields in the world to receive power from offshore wind. Hywind Tampen’s 11 turbines meet about 35% of the platforms’ annual electricity power demand, offsetting 200,000 tonnes of CO2 emissions a year, which is equivalent to 100,000 internal combustion engine cars.

With Hywind Tampen, Equinor now operates nearly half of the world’s offshore floating wind capacity.

Read more on Hywind Tampen project
Scaling renewable power:

The world’s biggest offshore wind farm

When completed, Dogger Bank will be the largest offshore wind farm in the world. Located off the coast of Yorkshire in the UK, it will comprise 277 turbines, with a capacity of 3.6GW. In October 2023, the first turbine started turning and producing electricity.

Dogger Bank will be capable of powering the equivalent of six million British homes annually.

Read more on our offshore wind projects
World’s first commercial CO2 storage facility:

Northern Lights, Norway

Northern Lights, the world’s first commercial third-party CO2 storage facility, was completed in 2024 and is ready to receive and store captured CO2. It is a joint venture between Equinor, Shell and TotalEnergies, with Equinor as the technical service provider. It consists of an onshore receiving terminal from which CO2 will be piped nearly 100 km offshore for injection and permanent storage in a subsurface reservoir deep beneath the North Sea. It is set to begin receiving CO2 from our customers in 2025.

Northern Lights offers a COâ‚‚ storage capacity of 1.5 million tonnes of COâ‚‚ per year, equivalent to the emissions of around 750,000 fossil fuel cars.

Read more about Northern Lights project

Related pages and downloads

Related pages

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