Following its pledge of $800m to reaching carbon neutrality, Lundin also intend to neutralise its scope 1, 2 and 3 supply chain emissions entirely by the same date.
Through the use of natural carbon capture projects and carbon credit offtake agreements, the company aims to further reduce or neutralise future emissions.
Electrification of the company’s main producing assets will cause the its emissions intensity to equate to around 1kg of CO2 per BoE2 (barrel of oil equivalent squared), over 15 times better than the industry average.
By decarbonising faster than the requirements set out by the Paris Agreement, Nick Walke, President, CEO, Lundin Energy, said that the acceleration of carbon neutrality by two years to 2023 is a key differentiator for their business.