Lundin Petroleum AB introduced the launch of its Decarbonisation Strategy, which targets carbon neutrality by 2030. In relation to this, and to higher replicate the enterprise at the moment and the clear actions and targets in direction of a decrease carbon future, the Board is proposing to alter the title of the Company to Lundin Energy AB. Decarbonisation Strategy Lundin Petroleum recognise the challenges of local weather change mixed with the growing power wants linked to rising international inhabitants, the worldwide group’s dedication to cut back international carbon emissions and the function that forward-thinking firms can play on this. With the Decarbonisation Strategy, the Company has formalised its ongoing dedication to cut back its carbon footprint to the bottom doable ranges, via an efficient mixture of emissions reductions, power effectivity, focused analysis and growth and carbon seize mechanisms. Also, as beforehand introduced funding in renewable power initiatives will probably be undertaken to exchange internet electrical energy consumption, offering these generate an excellent return to shareholders on a leveraged foundation. Roadmap to carbon neutrality by 2030:
• From 2020 restrict common operated and non-operated portfolio carbon depth to beneath 4kg CO2 per boe and from 2023 to beneath 2kg CO2 per boe
• In 2022 totally electrify Edvard Grieg and Johan Sverdrup Phase 2, to attain carbon depth for these belongings of lower than 1kg CO2 per boe
• From 2022 change all internet electrical energy utilization from energy from shore, via investments in renewable energy technology
• To offset all enterprise and operationally associated air journey emissions via pure carbon seize, efficient from 2018
• By 2030 obtain carbon neutrality throughout our operations as an oil and gasoline producer
The Board of Lundin Petroleum is proposing to alter the title of the Company to Lundin Energy AB.
The proposed title change stays topic to shareholder approval on the Company’s Annual General Meeting on 31 March 2020. The Board believes that with the manufacturing development pathway set in direction of the goal of 200 Mboepd, coupled with sustainable, trade main low working prices and a carbon depth which will probably be beneath 2 kg CO2 per boe in 2023 versus the world common of 18 kg CO2 per boe, it’s clear that the Company is remodeling what it delivers in addition to how it’s delivered. Lundin Energy higher displays what the Company is doing as an explorer and producer at the moment and its function in supplying the power transition with essentially the most sustainable oil and gasoline manufacturing doable as a necessary a part of the longer term power combine.
Lundin Petroleum is an unbiased oil and gasoline exploration and manufacturing firm fashioned in 2001 and primarily based in Sweden with concentrate on operations in Norway.
(Source: Lundin – Image: Lundin staff within the Norwegian North Sea)
The publish LUNDIN PETROLEUM LAUNCHES DECARBONISATION STRATEGY appeared first on Energy Global News.