RE: Long Game21 Jun 2025 21:22
We think the economy is just as important as the environment
Yeah, we would say that….
Some people might think that, as an energy company predominantly producing oil and gas, we must be trying to undermine the energy transition. But the truth is that it’s harder to look after the environment if we don’t look after the economy.
Scaling up renewable energy and the infrastructure it requires is expensive, and the UK needs to invest in developing local expertise in lower carbon technologies and solutions. Otherwise it could be left behind, which would make it even harder to get to net zero.
We’ve been playing an important part in the British economy for 40 years, so we know how much money and time it takes to change a global energy system that still consists of 80% fossil energy.
That’s why, over the last few years, we’ve accelerated our investments in the energy transition. In 2024, our gross spend on renewables and lower carbon solutions was 27% of our total global investment.
Over the next three years, we are committed not investing a further 5 billion US Dollars in renewables and lower carbon solutions.
Our UK wind farms currently power around 750,000 homes. And Dogger Bank, which will be the largest offshore wind farm in the world, is set to power an additional six million UK homes when fully operational, and has already created more than 2,000 UK jobs during the construction and operation phases.
We’re also developing the infrastructure for hydrogen to be used as a fuel to power industry in the Humber and to enable carbon capture and storage at scale. And while we’re scaling everything up, we’ll still need to fuel the economy by continuing to supply nearly 30% of the UK’s natural gas and around 15% of its oil, helping to make Britain’s energy supply more secure and less reliant on sources beyond the North Sea.
So it’s not really a question of being more interested in the economy than we are in the environment, because we need to contribute to both. And we have 23,000 employees working to find answers by constantly searching for better.
An energy company searching for better.
equinor.co.uk
from this week's The New Statesman. This is aimed at the policy makers of Labour (who else reads TNS?). I copied it because a lot of thought has gone into this. Later in an article Will Dunn the Business Editor states "The price of energy is the price of pretty much everything, from goods made in Chinese factories to produce grown on British farms." In the same breath he says we need to move away from O&G which is far cheaper and which we own.
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