– There must be enough energy at all times, says Anders Opedal, CEO of Equinor.
With two cold winters in a row in both Asia and Europe, less gas from Russia, and the transition to less stable, green forms of energy in several countries, the supply of electricity has been hit hard in recent months. This has led to record high electricity prices in both Norway and Europe.
This has led the Equinor boss to warn that the situation could get worse if it is recovered. less oil and gas, as long as it is not built up enough renewable energy:
TV 2 explains: That’s why electricity is so expensive
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Popular uprising
– Now there is too little energy. And in the green shift, while investing more in renewables, you also have to make sure that there is enough oil and gas. You have to find the right balance of investing in oil and gas, while at the same time stepping up in renewables, says Opedal in the TV 2 program Bare business.
He believes that the power uprising we have seen in Norway this winter can only be a foretaste of what may come if there is more imbalance in the power supply. For example, there may be popular uprisings around Europe, where many governments do not have the money to help the population with the electricity bill:
– The Yellow West movement (Gilets Jaunes), which protested against high fuel costs in France. Here in Lyon in 2019. Photo: JEAN-PHILIPPE KSIAZEK / AFP
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– We remember the “yellow vests” in France, when energy prices became too high. We see it in England, now that gas prices are very high and the industry must therefore lay off people, says Opedal.
– Now you are talking on behalf of and the oil and gas industry, and as an argument against environmental parties and other oil opponents that you can not set an end date, not phase out too fast?
– That’s exactly the point. We are moving towards a world where there is more renewable energy. Everyone agrees on that. But the road there and finding the right balance will be incredibly important, he says.
Warm house vs environment
– Can support for the green shift be weakened now with high electricity prices? Maybe people would rather have a warm house than a goal of green forms of energy?
– Yes, that is why it is so important that you get enough energy, so that there are no large fluctuations in the prices of electricity or gas for consumers. Then you can heat your house, at the same time as we move towards the climate goals, says the Equinor boss.
Wind power
Opedal took over the job as CEO of Equinor in November last year, and has set the goal of making the oil and gas giant more sustainable. The company is now investing more and more in green forms of energy, such as wind power.
According to the plan, floating offshore wind turbines will also be used to electrify the oil and gas platforms on the Norwegian shelf, thereby reducing Norway’s CO2 emissions.
– But many believe that offshore wind will be very expensive, and perhaps not profitable?
– Yes, and then it is the case that there is a lot of technology that has been expensive in the beginning. And then, as you scale it up, it becomes competitive. As you get more projects, get bigger wind farms built, get more experience, you will always look for opportunities that drive down costs, he says.
– But will it be profitable?
– Yes, it will be profitable. It has to be profitable. We see that offshore wind is one of the renewable forms that the world needs. Many countries have a large coastline, and being able to use the sea areas to generate energy is important for many countries, says Opedal.
Birds and fish
The plans for large-scale development of offshore wind farms have also received critical reactions. There are fears that large, floating wind turbines could be a danger to bird life, and to the spawning of fish in the sea.
– Do you have enough knowledge about the consequences of the offshore wind turbines?
– We have to work with that. We need to understand how it affects the environment. But we have 10 years of experience with wind turbines in the UK, and have conducted environmental monitoring there. We do not have all the answers now, but we will gather the knowledge we have to make the right decisions, says Anders Opedal.
Watch the full interview with the Equinor boss in Bare business this weekend on TV 2 Nyhetskanalen, or at any time here on TV 2 Play.
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