Norway's Statoil increases commitment to reduce CO2 emissions

Norwegian oil and gas company Statoil said on Wednesday it would increase its commitment to reduce CO2 emissions on the Norwegian continental shelf by 2020 as it is already close to achieving its original goal.

Since 2008, Statoil has had the aim of reducing CO2 emissions on the Norwegian continental shelf by up to 800,000 tonnes by 2020. As the goal is close to being achieved four years ahead of time, it will increase the target by 50 percent to 1.2 million tonnes, the company said in a statement.

"In Norway, we produce oil and gas with half of the CO2 emissions per unit of output compared to the global industry average. By aiming even higher now, we are reinforcing our leading role in the coming years as a low-emission producer of oil and gas," Statoil's executive vice president Arne Sigve Nylund was quoted as saying.

In 2008, Norway's petroleum industry, led by Konkraft, a forum which comprises various companies and organizations with a focus on competitiveness of the Norwegian continental shelf, agreed on a goal of improved energy efficiency equivalent to 1 million tonnes of CO2 between 2008 and 2020. Statoil's share was 800,000 tonnes.

"For several years now, we have been working hard at managing our energy use and improving energy efficiency on all our installations, which means that we have already practically achieved our Konkraft target," Nylund said. "That is why we are now setting a new target of another 400,000 tonnes by 2020."

With a total reduction of 1.2 million tonnes of CO2, Statoil will have reduced emissions on the Norwegian continental shelf by the equivalent of emissions from about 750,000 cars, or every third car in Norway, according to the company's statement. Endit