Equinor to spend EUR 5 billion on climate initiatives before 2030

Emissions from Norwegian oil and gas extraction must be reduced by 40 percent by 2030, which will cost NOK 50 billion. Equinor plans to achieve carbon neutrality before 2050 by electrifying its fields.

Hywind Tampen are among the projects that Equinor bets on to reduce emissions. | Photo: Equinor

by VICTOR EMIL KRISTENSEN

Last night, several Norwegian media outlets reported that Norway's oil and gas extraction is to be carbon-neutral by 2050.

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