"How we contribute to reduce emissions and develop cleaner energy will be crucial for our future, not only as an industry but as a world."
Mr. Opedal reflected on the steps Equinor is taking to reach its goal of being a leading company in the energy transition. Moving forward, he said there are two vital points: people and planet.
As an industry, he said we have the toughest safety standards in the world but still see too many incidents. “We need to work together throughout our industry to create an even stronger safety culture, where human rights and compliance are fundamentals. The safety of our people is the very foundation of our license to operate.”
Regarding the planet, he said the oil and gas industry needs to demonstrate that it is an essential part of the solution. “We must reduce the footprint of today’s energy systems, be technology-open, and shape the energy systems of tomorrow.”
Equinor aims to be a net-zero company by 2050, with plans including reduced emissions from its own oil and gas production, accelerated growth in renewables, and development of low-carbon markets for hydrogen and CCUS. The company is already a leader in floating offshore wind, and has a strong position in fixed offshore wind. And, for over 20 years, it has removed CO2 from two of its Norwegian offshore natural gas fields and stored more than 26 million tons safely below the seabed. It’s now developing similar solutions with Shell and Total for the large Northern Lights CO2 transportation and offshore storage project.
“To succeed,” said Mr. Opedal, “we must not only work closer together within Equinor, but also with our partners, suppliers, investors, and society.”