Vår Energi acknowledges and is committed to the Paris Agreement and the UN SDG #13 Climate Action. In addition, through our target of 50% reduction in GHG emissions from our operated assets, we will significantly contribute to reaching the 2030 NCS joint industry target of 40% reduction in GHG emissions1.
1 Industry of Tomorrow on the Norwegian Continental Shelf. Climate Strategy towards 2030 and 2050. KonKraft report 2020-1
The main direct sources of emissions from our operated assets (Scope 1) are from energy production offshore. Furthermore, although regular flaring of produced gas on the Norwegian Continental Shelf is prohibited, some emissions are still caused by legal flaring for safety reasons. Indirect emissions are caused by the generation of purchased electricity (Scope 2) and from our supply chain and use of our products (Scope 3).
Our targets for reducing our GHG emissions:
- 50% reduction in GHG emissions from operated assets in 2030 (Scope 1)1
- Near zero GHG emissions from operated assets in 2050 (Scope 1)
- All new greenfield developments shall be electrified with power from shore or from renewable offshore power production
- Net zero fugitive methane emissions from operated assets from 2025
- Net zero Scope 2 emissions2
- Net zero upstream Scope 3 emissions3
- In our partner operated assets we shall stimulate to and support the implementation of cost-effective measures to reduce the GHG emission and hence contribute to reaching the 2030 NCS joint industry reduction target
1 Baseline year is 2005
2 Office buildings from 2021, offshore electrified assets from 2025
3 Business travels from 2021, ER and PR Vessels from 2025
Reducing GHG emissions
There are several pathways to reducing GHG emissions from our operations. In Vår Energi, we will take the following measures to reduce the amount of GHG we emit to the atmosphere:
- Electrification of our assets with power from shore or from other renewable power sources, such as offshore wind
- Increasing our operational efficiency through optimizing and active energy management
- Portfolio management
- Reduced cold venting and fugitive emissions from our assets through operational measures
- Use of bio-CCS (e.g., tree planting) as an offsetting/compensating measure to achieve net zero emissions
From our partner operated assets the GHG emissions will mainly be reduced by electrification of assets with power from shore or from other renewable power sources.
In addition, we will continue our efforts to develop low emission technologies and carbon capture and storage (CCS) technologies through our R&D activities in the next decades, reducing GHG emissions in the long-term.