On the UN’s World Oceans Day, Equinor is launching its ambitions for reducing own emissions from ships and how the company will contribute to decarbonising shipping.
Equinor’s maritime climate ambitions are embedded in the company’s climate roadmap launched on 6 February 2020. The climate roadmap aims to ensure a competitive and resilient business model fit for long-term value creation and in line with the Paris agreement.
The maritime sector represents 6% of total greenhouse gas emissions in Norway and 2–3% of global emissions. Being both a producer and a supplier of fuel to the maritime sector, Equinor has extensive maritime activity around the world, including around 175 vessels on contract with the company at any time.
“As a producer and user of maritime fuel, Equinor has a good opportunity to help decarbonise shipping. From our position on the Norwegian continental shelf (NCS), we will develop new solutions contributing to substantial emission reductions together with the maritime industry in Norway and internationally,” says Irene Rummelhoff, Equinor’s executive vice president for Marketing, Midstream and Processing (MMP).
Equinor has set the following ambition for its maritime activity:
- By 2030: Halving maritime emissions in Norway compared to 2005 emissions.
- By 2050: Halving global emissions compared to 2008 emissions.
Our ambitions for the maritime activity are in line with the goals of the International Maritime Organisation (IMO) for global shipping and the goals set by Norwegian authorities.
As a supplier of fuel to the maritime sector, Equinor’s ambition is as follows:
- By 2030: Escalating its production and use of low-carbon fuels.
- By 2050: Strongly increase production and use of zero-emission fuels.
Equinor has worked systematically on reducing its carbon intensity by developing new types of vessels and using alternative fuels in close collaboration with the industry. Equinor has been a pioneer in using liquefied natural gas (LNG) as a fuel, and during 2021 we will introduce large-scale use of liquefied petroleum gas (LPG) as a fuel.
A new hybrid battery system has been introduced for 19 supply vessels on contract with Equinor on the NCS, and the next generation of dual-fuel vessels is being introduced to the fleet continuously. The company has also, in collaboration with the maritime industry, started developing the world’s first supply vessel to run on zero-emission ammonia.