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Net-Zero Agenda Clashes With Rapidly Rising Global Energy Demand

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Will Big Oil's Huge Carbon Capture Bet Pay Off?

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Will Big Oil’s Huge Carbon Capture Bet Pay Off?
By Tsvetana Paraskova - Apr 21, 2021, 1:00 PM CDT
“We’re sending carbon back where it came from,” Norway’s energy giant Equinor says, describing its efforts to make carbon capture and storage (CCS) commercially viable in a future decarbonized energy system.
Equinor is a joint venture partner with two other oil majors, Shell and Total, in developing the Northern Lights project in Norway, which is planned to deliver carbon storage as a service to help third-party industries to reduce emissions.
Big Oil has been using CCS as a means to cut emissions from its own operations. Now the world’s largest international oil companies see carbon capture and storage as a potential new revenue stream in the energy transition.

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