The future has to be low carbon, Statoil says

Statoil, a Norwegian oil and gas company, has welcomed the Paris Agreement made on December 12, 2015, whereby the world’s leaders agreed on an ambitious plan to address climate change. 

Statoil said on Wednesday it was well positioned to play its part in the transition to a low carbon future.

“Statoil has called for an effective international climate agreement. We appreciate the huge effort the French leadership, the Norwegian government and all the countries involved, have put in to land this agreement,” says Bjørn Otto Sverdrup, senior vice president of Corporate Sustainability in Statoil.

According to the company, the future has to be low carbon and the Paris agreement will help to deliver the necessary policy framework to enable the transition.

“We also know that oil and gas will remain an important energy source for many years through the transition,” Statoil said.

“We aim to set an example of how the oil and gas industry must transform. That’s why our ambition is to be the most carbon-efficient oil and gas producer,” Sverdrup says.

The company said it has taken a leadership role in CCS, flaring, methane emissions reduction and improving energy efficiency in its own operations.

“We will continue to strengthen our efforts in these areas. At the same time we are investing in renewable energy where our competence can be a competitive advantage,” Sverdrup says.

Statoil particularly welcomed the opportunities for emission reductions transfers across national borders in the Paris agreement and the momentum generated around carbon pricing at COP21.

“There is no silver bullet. A combination of industry efforts, clear policies, predictable regulation and new technology will all play a role in taking us into the low carbon future. We are ready to do our part,” Sverdrup says.

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