Aker Solutions joins coalition to ramp up green steel game

Aker Solutions ramps up green steel game with First Movers Coalition pledge

Norwegian oilfield services provider Aker Solutions has joined the First Movers Coalition (FMC), thereby committing to buying at least 10 per cent of its steel from low-emissions sources by 2030.

Source: Aker Solutions

By joining the decarbonizing coalition, Aker Solutions has committed to a frame agreement for steel purchases, including some green steel destined to become topsides.

“Aker Solutions is proud to join the First Movers Coalition to support demand for emerging technologies essential for a net-zero transition,” said Kjetel Digre, CEO of Aker Solutions.

“As part of our climate action plan, we work continuously and systematically to not only improve our own carbon accounting but to influence and contribute to a material difference throughout the value chain.”

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The FMC, launched at COP26, is a global initiative led by the World Economic Forum and the U.S. Department of State which has brought together over 60 companies to build early markets for clean technologies.

The initiative aims to decarbonize hard-to-abate industrial sectors that are said to currently account for 30 per cent of global emissions. According to the World Economic Forum, the steel industry alone accounts for about eight per cent of world emissions.

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“We are honored to welcome Aker Solutions into the coalition,” said Nancy Gillis, Head of FMC. “With its bold ambitions for the energy transition, we believe Aker Solutions has a lot to bring to the FMC. We look forward to working together to decarbonize supply chains and accelerate the transition to a net-zero future.”

The FMC agreement coincides with Aker Solutions’ frame agreement for steel with Salzgitter Mannesmann International, Ilsenburger Grobblech and Salzgitter Mannesmann Grobblech, which includes a first batch of about 100 tons of low-carbon-dioxide steel.

The company notes that this recycled steel is produced with green energy and will be used on a renewable energy project offshore the UK.

To further strengthen its strategic position with respect to green steel, Aker Solutions announced it was in dialogue with several potential green-steel partners.

In terms of the most recent company-related news, it is worth mentioning that the Norwegian oilfield services provider secured a contract with Equinor a few days ago to tie back two gas fields in the Norwegian Sea to the Åsgard B platform.

The contract was deemed “sizeable”, meaning it is worth between NOK 0.5 billion and NOK 1.5 billion (approximately €44.1 million and €132.4 million).