Natural gas is the cleanest burning fossil fuel, and in a world facing major climate challenges Statoil believes that natural gas will play a key role, and serve as an important and cost-efficient means to reducing CO2-emissions.
Statoil has the technology, the expertise and the will to contribute to good climate solutions. Our aim is to be recognized as the most carbon efficient oil and gas producer.
Natural Gas plays an important role, both as a cleaner fuel for power generation and as a reliable base load for intermittent renewable energy sources.
Replacing coal with gas is one of the measures that will yield a substantial and immediate emissions reduction. This measure has no technological hurdles. Natural gas represents an abundant energy source, which is reliable and flexible, and which does not require subsidies. Gas supplied by Statoil and Norway has already contributed to significant emission reductions.
Global energy consumption is rising, enabling people around the world to achieve economic growth, improved welfare and opportunity. At the same time, global greenhouse gas emissions must be reduced by 40-70% by 2050 in order to limit global warming. With the current global consumption of coal, achieving these emission reduction goals is not feasible. More efficient energy use and a faster transition from coal to gas is essential in realising fast emission reductions from the energy sector while simultaneously making energy more readily available.
Statoil produces oil and gas with emissions that are substantially lower than other major companies, and we have set rigorous emission targets for 2020.
Carbon Capture and Storage will be an important tool to further reduce emissions from Natural Gas. Here Statoil has been a pioneer - the 20 million tonnes of CO2 we have captured and stored on the Sleipner, Snøhvit and In Salah fields is just one example of the work we are doing to reduce emissions.
In a world facing major climate challenges, Statoil believes that natural gas will continue to play a key role, and serve as an important and cost-efficient means to reducing CO2-emissions.