Equinor has scrapped plans to cut greenhouse gas emissions by connecting several offshore platforms to Norway's onshore power grid, the company told the government on Friday…
Equinor has scrapped plans to cut greenhouse gas emissions by connecting several offshore platforms to Norway's onshore power grid, the company told the government on Friday, citing soaring costs.
The oil and gas sector is Norway's largest source of climate emissions, accounting for about a quarter of the total. Around 80% of industry emissions come from gas turbines powering offshore installations.
Replacing them with renewable electricity from shore has been a key decarbonisation strategy.
Equinor would no longer pursue electrification of its Snorre A and B, Heidrun, Aasgard B and Kristin platforms, but still plans to proceed with projects at Grane and Balder fields, it said in a letter sent on Friday to the energy ministry and seen by Reuters.
The energy ministry said it had no comments at this time.
Norwegian business news website E24 was the first to report on the letter.
"The costs of electrifying Snorre and the Halten area have become so high that the projects are no longer sufficiently profitable, and we therefore recommend discontinuing them," an Equinor spokesperson said in an email.
The move means Equinor will fall short of a non-binding government target to cut Norway's offshore petroleum emissions by 50% by 2030, reaching
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