Norwegian Oil and Gas Association announced on August 17, 2016, its ambition to implement CO2 reduction measures corresponding to 2.5 million tonnes on the Norwegian continental shelf (NCS) by 2030 compared with 2020.
Norway is leading the industry when it comes to climate change solutions and technologies for oil and gas production and has the most stringent framework conditions for climate change.
Norwegian Statoil said it would account for 2 million tonnes of the total cuts planned for the Norwegian continental shelf.
Statoil has previously set itself the goal of cutting annual carbon emissions from the NCS by 1.2 million tonnes by 2020 compared with 2008.
The Paris negotiations represent a crossroads in international climate change work due to the number of countries reaching an agreement. It is based on an understanding that the increase in the global demand for energy must largely be met by renewable energy, but also recognition that the global economy will need fossil energy sources for a long time, also within a two-degree scenario.
«The goal we have now set ourselves is definitely ambitious, and we do not know at this stage how to achieve it. But this was also true in 2008, when we set ourselves a stretch target for 2020 which we have already achieved. Technology development and cost reductions will be essential to a successful outcome,» says Arne Sigve Nylund, executive vice president for Development and Production Norway.
Statoil last year joined 9 of the world's largest oil and gas companies in pledging to play a constructive role in reducing the intensity of global greenhouse gas emissions.