Designed to both support the goals of the Paris Agreement and mitigate carbon emissions, the agreement will involve exploring opportunities in areas such as renewables, carbon capture, utilisation and storage (CCUS), and low=carbon hydrogen solutions.
In addition, the companies will investigate reduction in flaring and methane emissions, energy efficiency and reporting of greenhouse gas emissions.
With the company aiming to ‘proactively support’ emissions reductions, Al Cook, Executive Vice President for Exploration and Production International, Equinor, said, “We are happy to work together with Rosneft and share best practice to address climate change.”
The agreement will also see the partnership engaging in joint sustainability-centre activities based on the United Nations Sustainable Development Goals.