I spent the first half of this week in Stavanger, which is the oil and gas capital of Norway. We came together as a global team to combine our efforts on supporting companies as they transition to new low carbon energy sources.
But should we be working with oil and gas companies?
There are many who campaign for a boycott of oil and gas companies. Just Stop Oil is campaigning for no new oil and gas licences. The National Portrait Gallery in London has cut its ties with BP.
Transitioning our energy system is a massive task – the UK Committee on Climate Change estimates the cost to be £1.5tn between now and 2050. That’s £50bn per year, costing each household £2000 per year for 30 years. (Currently, we only achieving about 1/3rd of this)
We know that this requires huge scale engineering and asset management, it needs expertise in process optimisation, and it needs deep pockets. There is a short list of contenders of who can do this.
Oil and Gas companies are well placed to do this. They are rich in the skills needed.
Are they moving fast enough? Not yet, and we want to help them to accelerate their efforts and to make clean energy more economic.
My view is that: There is no energy transition without transitioning the oil and gas companies.
#energy #climatechange #engineering #oilandgas #energytransition #cleanenergy #oil
Gunnar Deinboll Julien Jaulin Hubert Clément John Penny Chris Cartwright Antonio Alonso RubioLinn Helgesen Sigurd Knapstad Akram AL GANAD Igor Lelieveld Thomas Gannon Eivind Gjesteland
