Norwegian energy company Equinor aims at reaching net-zero emissions of greenhouse gas by 2050, the company’s new CEO Anders Opedal said. The target covers emissions from the company’s oil and gas upstream production to final consumption by customers. Opedal said Equinor would acquire more wind power assets and deploy carbon capture and storage. The company will also develop technology that enables the commercialization of hydrogen power.
Despite the net-zero emissions goal, Opedal said that Equinor is moving forward with a target to increase oil and gas output by 3% annually from 2019 to 2026. Equinor will make a detailed strategy update available in June 2021. European oil giants have launched transitions toward low-carbon energy as many investors pushed them to strengthen their green energy strategy.
