Statoil: Natural gas key to meeting Europe's energy challenges

Source: Statoil

“Natural gas is key to solving Europe’s energy challenges going forward, delivering on cost competiveness, security of supply and the climate challenge,” says Rune Bjørnson, senior vice president for natural gas at Statoil (NYSE:STO)

Monday January 17, Statoil kicks off a marketing campaign arguing for natural gas to be part of Europe’s energy mix for the long term.

It also marks that Statoil has been a reliable gas supplier to Europe for over 30 years based on its production from the Norwegian Continental Shelf. 

“We are making the case for natural gas and pointing out that this energy source is a particular attractive option in the power segment, being cost competitive, relying on proven technology and having the lowest CO2 footprint compared to other fossil fuels,” says Bjørnson. 

The world, including Europe, stands to tackle the challenge of meeting growing energy demand while at the same reducing the CO2-emission. 

“Our contribution is to focus on an energy source we deem as an obvious and cost-efficient solution that can make a large contribution in meeting both the issue of energy supply and reducing CO2 emissions.”
“In our view natural gas should have a key role to play in EU’s long term energy mix as it is an affordable, abundant and a low carbon fossil fuel,” Bjørnson concludes. 

Natural gas is the cleanest burning fossil fuel and can make a significant and immediate contribution in cutting Europe’s CO2-emissions by replacing coal-fired power plants with power plants fuelled by natural gas. 

A modern gas plant emits 60-70% less than an old coal plant. In addition, natural gas is energy efficient and very competitive when it comes to capital costs per mw installed, requiring no subsidies. 

About Statoil’s gas position 

Statoil is the second largest supplier of gas to Europe. It is a long-term and reliable supplier of gas, actively developing the Norwegian Continental Shelf in addition to developing key, international gas value chains in the Caspian region, North-Africa and the US. 

The group has been delivering gas to Europe for over 30 years and has developed a major and integrated gas production and transportation infrastructure on the Norwegian Continental Shelf, ensuring Europe a flexible and reliable source of energy. 

Key gas role on the NCS

Statoil has a solid position on the Norwegian Continental Shelf. The group’s key gas assets on the NCS where it is operator or holds ownership is: Troll, Ormen Lange, Åsgard, Snøhvit and Oseberg. 

Statoil exports gas through a major, flexible and integrated pipeline infrastructure from Norway to Europe. The Norwegian Continental Shelf is connected with pipelines to Germany, France, Belgium and the UK. 

In addition, Statoil produces LNG (Liquefied natural gas) from the Snøhvit field in the Barents Sea, transporting the gas on special vessels to markets worldwide. 

A large gas sales portfolio

Statoil is selling gas to customers in Germany, France, Belgium, Italy, The Netherlands, UK, Austria, Spain, Czech Republic, Azerbaijan, Georgia, Turkey, Denmark, Ireland, USA and Norway.

Statoil is participating in key gas positions in USA, the Caspian region, North Africa and Russia.

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