Currently, too little area is available for offshore wind power Equinor wants to be a leader in this area US, Europe, South Korea, Japan turn to development Bet on carbon recovery and storage OSLO, June 21 (Reuters)-Norwegian oil company Equinor, CEO, now has an offshore area available to wind farms in countries around the world
- Currently, too little area is available for offshore wind power
- Equinor wants to be a leader in this area
- US, Europe, South Korea, Japan turn to development
- Bet on carbon recovery and storage
OSLO, June 21 (Reuters)-Norwegian oil company Equinor, CEO, now has an offshore area available to wind farms in countries around the world if they want to realize their ambitions for climate change. Should be more than. (EQNR.OL) I told Reuters.
Like other European oil majors, Equinor is developing a portfolio of renewable projects while continuing to produce oil and gas, taking into account its expertise as an offshore platform operator for offshore wind power. Priority is given. read more
“Many governments have very high ambitions for offshore wind, but the areas they are offering for leasing are still limited,” Oppeda said at the Reuters event: Global Energy Transition Conference. Said in an interview.
“If the government wants to realize its ambitions, it needs more,” said Oppeda, citing Norway, the United States, Europe, Japan and South Korea as areas of interest to Equinor. read more
He welcomed Norway’s announcement that it would open more offshore areas to wind farms since the first two of this year, expecting more areas to open globally in the long run. He said he was. read more
When Opedal announced its new strategy on June 15, Equinor cut expectations on the actual revenue of its renewable energy project, especially reflecting the higher costs of winning a license auction. read more
“We know that there are probably more competitors than available leases, which can push up prices,” he said.
Equinor is pushing ahead with the development of carbon capture and storage (CCS) at the Mongstad oil refinery on the west coast of Norway after a failed attempt over a decade ago.
This time, Opedal said Equinor is focusing on transportation and storage, allowing others to see emissions on-site.
Equinor has a goal of developing the capacity to transport and store 15 to 30 million tonnes of CO2 annually by 2035, and has set a provisional goal of 5 to 10 million tonnes by 2030.
“Our competitive advantage is that we are familiar with the Norwegian continental shelf. We know where CO2 can be safely stored,” he said, and has the expertise to do this in-house. I added that it was.
Equinor will continue to produce oil and gas, but production is expected to increase by 3% annually until 2026, then peak and decline. Production in 2030 is expected to be on par with 2020. read more
“I think our answer right now is to develop a strategy with a lot of options,” Oppeda said. “(But) the direction is clear. I think we are heading for a world where demand for oil and gas is low.”
Click here for more information on the Reuters Event: Global Energy Transition Conference. [https://reutersevents.com/events/energy-transition-global/]
Additional report by Nerijus Adomaitis; edited by Terje Solsvik and Jan Harvey
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