Norway’s Equinor (EQNR.OL) mentioned on Tuesday it’s contemplating whether or not to construct a pioneering offshore wind farm with floating generators to provide electrical energy to 2 North Sea oilfields as a part of a technique to curb greenhouse gasoline emissions.

The venture on the Gullfaks and Snorre oilfields would value round 5 billion Norwegian crowns ($592 million) and will scale back Norway’s emissions of carbon dioxide by greater than 200,000 tonnes per 12 months, Equinor mentioned.


“This might be the primary time an offshore wind farm is immediately linked to grease and gasoline platforms,” state-controlled Equinor mentioned in a press release. The two fields at the moment are powered by turbines working on pure gasoline on the platforms.

Norway’s greenhouse gasoline emissions have remained excessive regardless of pledges for deep cuts underneath worldwide accords such because the Paris local weather deal. Last 12 months, Norway’s annual emissions have been 2.four p.c above 1990 ranges at 52.four million tonnes.

“To keep worthwhile operations (offshore Norway) in the long run, it’s important that we do our utmost to additional scale back the carbon footprint from our actions,” Executive Vice President Arne Sigve Nylund mentioned.

Formerly often called Statoil, Equinor earlier this 12 months modified its identify to underscore a push into renewable vitality underneath Chief Executive Eldar Saetre, though oil and gasoline will stay the corporate’s dominant enterprise.

The firm’s first floating offshore wind farm started working off Scotland final 12 months, supplying electrical energy to the onshore market. Equinor has additionally introduced plans for bottom-fixed offshore wind initiatives within the United States, Poland and Britain.

A closing funding determination on the plan for Snorre and Gullfaks, often called the Hywind Tampen floating wind farm, can be made in 2019, Equinor mentioned. The firm will search to cut back the associated fee from the preliminary estimate.

Equinor mentioned it hoped Norwegian authorities subsidies would cowl half the capital expenditure for the venture, the place 11 generators, every with a capability of eight megawatts, would meet about 35 p.c of the facility demand from the 2 fields.

Electricity era prices might be 40-50 p.c lower than the 200 euros ($229) a megawatt hour on the Scottish venture.

“This will assist scale back Norway’s total carbon emissions,” Marius Holm, head of environmental basis Zero, informed Reuters. “The transfer can even assist industrialise offshore wind and convey prices down.”

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The Gullfaks subject is owned by Equinor, OMV (OMVV.VI) and Norway’s state-owned Petoro, whereas Snorre is held by Equinor, Petoro, ExxonMobil (XOM.N), Idemitsu (5019.T), DEA and Point Resources.


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