Insight
Strategy update: Equinor accelerates along the road to net zero
Report summary
Equinor will accelerate its strategic shift towards renewables and low carbon. The company’s first strategy update under new CEO Anders Opedal outlined an increasingly low carbon future, aligned with its 2050 carbon neutrality goal. Headline updates included a move to bring forward the company’s 12-16 GW net renewables capacity by five years to 2030. Equinor also unveiled ambitions to develop 15-30 mmtpa of CO2 storage capacity and 3-5 hydrogen projects over the next 15 years. To fund these goals, investment in renewables and low carbon will rise to 50% of gross investment (before project financing) by the end of this decade. We analyse new company guidance and key messages on strategy.
Table of contents
- Executive Summary
-
Equinor accelerates along the road to net zero
- Milestones on the road to carbon neutrality
- Accelerated growth in renewables
- Building low carbon leadership
- Refocusing in oil and gas
- Rising spend and shareholder distributions in updated financial framework
Tables and charts
This report includes 6 images and tables including:
- Equinor net zero ambitions
- Euro Majors’ carbon intensity reduction goals (based on production/energy provided)
- Euro Majors’ renewables capacity targets
- Current gross operational CCUS capacity by operator
- Equinor entitlement production outlook: Wood Mackenzie base case
- Equinor’s capex and cash flow outlook
What's included
This report contains:
Other reports you may be interested in
08 April 2021
The role of NOCs on the road to net zero
Insight
The role of NOCs on the road to net zero
NOCs dominate upstream production. What does this mean in a low carbon world and are NOCs next to set net zero targets?
$1,35009 October 2020
Strategy Update: Total's 2020 Investor Day
Insight
Strategy Update: Total's 2020 Investor Day
Total laid out how it will rise to the dual challenge of meeting growing energy demand with less carbon in its 2020 strategy outlook
$1,35017 December 2021
Strategy update: Woodside 2021 investor update
Insight
Strategy update: Woodside 2021 investor update
After a transitional 2021, Woodside CEO Meg O'Neill unveiled a strategic refresh designed to thrive 'through the energy transition'.
$1,350
