January 24, 2022

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There has to be a balance

There has to be a balance

There must be adequate power at all times, says Anders Opedal, CEO of Equinor.

With consecutive cold winters in Asia and Europe, lower gas from Russia, and the transition to less stable and green forms of energy in many countries, electricity supplies have been hit hard in recent months. This has pushed electricity prices to record levels in both Norway and Europe.

This led to Equinor’s chief warning that the situation could get worse if he recovers. less Oil and gas provided they do not accumulate Adequate Renewable energy:

TV shows 2: This is why the cost of electricity is so high

popular uprising

– Now there is little energy. And in the green transition, as you invest more in renewables, you also have to make sure you have enough oil and gas. You have to find the right balance to invest in oil and gas, while at the same time ramping up in renewables, Obedal says on Barry Business. TV 2.

He believes that the upsurge in power we have seen in Norway this winter can only be a prelude to what might happen if there is a further imbalance in the energy supply. For example, there may be popular uprisings across Europe, where many governments do not have the money to help the population with the electricity bill:

The Yellow West movement (Gilets Jaunes), which protested the rise in fuel prices in France. Here in Lyon in 2019. Photo: JEAN-PHILIPPE KSIAZEK / AFP

We remember the “yellow vests” in France when energy prices were too high. We’re seeing it in England, Obidal says, with gas prices getting too high, so the industry has to lay people off.

– Now you are speaking on behalf of and on behalf of the oil and gas industry, and as an argument against environmental parties and other opponents of oil, you can not set a deadline, not phase out too quickly?

– That’s exactly the point. We are moving towards a world where there is more renewable energy. Everyone agrees on that. But the way there and finding the right balance will be very important, he says.

warm house vs environment

Is support for the green transition weakening now with the increase in electricity prices? Perhaps people would prefer a warm home over the goal of green forms of energy?

– Yes, so it is very important that you have enough power, so as not to cause huge fluctuations in the prices of electricity or gas for consumers. Then you can heat your home, at the same time as we move toward climate goals, says Equinor’s president.

wind force

Obidal took over as Equinor’s CEO in November last year, and she set a goal of making the oil and gas giant more sustainable. The company is now investing more and more in green forms of energy, such as wind power.

According to the plan, floating offshore wind turbines will also be used to electrify oil and gas platforms on the Norwegian shelf, thus reducing Norway’s carbon dioxide emissions.

– But many believe that offshore wind will be expensive, and perhaps not profitable?

– Yes, and then there is a lot of technology that was very expensive in the beginning. And then, as it scales up, it becomes competitive. As you get more projects, build bigger wind farms, and gain more experience, you’ll always look for opportunities that drive costs down, he says.

– But will it be profitable?

– Yes, it will be profitable. It must be profitable. We see offshore wind as one of the renewable forms the world needs. Obedal says that many countries have a large coastline, and the ability to use offshore areas for power generation is important for many countries.

birds and fish

Large-scale development plans for offshore wind farms have also received critical feedback. There are concerns that large, floating wind turbines could pose a threat to bird life and to fish spawning at sea.

– Do you have enough knowledge about the consequences of offshore wind turbines?

– We have to work with that. We need to understand how it affects the environment. But we have 10 years of experience with wind turbines in the UK, and we’ve done environmental monitoring there. We don’t have all the answers now, but we will gather the knowledge we have to make the right decisions, says Anders Obedal.

Watch the full interview with Equinor’s head at Bare Business this weekend on TV 2 Nyhetskanalen, or anytime Here on TV 2 Play.

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