Winner of the 2015 Award for
Leadership in New Energy
Norwegian company Statoil is the winner of the 2015 Award for Leadership in New Energy. Statoil has been a pioneer in the transition in several ways -- political engagement, investments in alternative and lower-carbon energy, and efforts to “green” its conventional oil and gas business -- and is considered a leader among its peer group of large oil and gas companies.
"Statoil stands out among IOCs as a leader on this issue," said David Pike, Energy Intelligence Editorial Director. "The company's involvement in the climate debate has helped guide the industry toward greater engagement in the run-up to December's Paris climate summit."
Chief Executive Eldar Sætre recently ranked climate as one of the industry's top two challenges alongside high costs, while declaring that the firm wants to be the most carbon efficient oil and gas company.
Statoil sees a strong link between business competitiveness and being a low-carbon producer, with efforts to improve efficiency in its operations and reduce its environmental footprint deemed a sensible move in a competitive industry environment. Statoil is working with 10-14 different companies to develop technologies to combat gas flaring, and it has set up a joint technology program with General Electric to address this and other issues, such as fugitive greenhouse gas emissions and water usage at oil and gas fields.
The firm has made investments in offshore wind projects and says it is also looking at further expansion. Underscoring this ambition, Statoil recently announced the creation of a dedicated "new energy solutions" business unit, reporting directly to the CEO.
Statoil is a strong advocate of both carbon pricing and carbon capture and storage, with the latter building on its hands-on experience at the Sleipner field, Snovit LNG project, and Technology Centre Mongstad. Statoil sees strong demand for hydrocarbons continuing into the future, but highlights the role that cleaner-burning natural gas could play in displacing coal.