Equinor has presented a plan to reduce greenhouse gas (GHG) emissions from its operated offshore fields and onshore plants, by 40% in 2030, 70% in 2040 and to near zero in 2050, including both Scope 1 and Scope 2 emissions of CO2 and methane. Total emissions for Equinor’s Norwegian operated fields and plant amounted to around 13 MtCO2 in 2018, approximately the same level as in 2005, which is used as a baseline for emissions reductions.
Requiring an investment of NOK50bn (€5bn), the first phase of the program will be achieved through large scale industrial measures, including energy efficiency, digitalisation and the launch of several electrification projects at key fields and plants (Hammerfest LNG plant, Troll and Oseberg offshore fields). It will allow a 5 MtCO2 reduction in GHG emissions, accounting for around 10% of total annual Norwegian GHG emissions.
To reduce its Norwegian GHC emissions by 70% in 2040, and close to zero in 2050, Equinor plans additional measures, further electrification projects, consolidation of infrastructure as well as opportunities to develop new technologies and value chains. It assumes that its oil and gas output in Norway will be more than halved from the current level.