Our goal is to develop a profitable business that leads to sustainable energy production and increased use of clean energy carriers.
In addition to producing oil and gas StatoilHydro is developing new energy and new energy carriers. In this area we mainly focus on renewable energy, energy efficiency, carbon management and hydrogen as future energy carriers.
The development of renewable energy is important to StatoilHydro. We are committed to developing solutions that reduce domestic and international carbon emissions, as well as helping develop a society based on hydrogen and renewable electricity generation.
Challenges
The Kyoto protocol signed by the European Union (EU) and Norway involves greater obligations for the parties. This has increased the focus on energy production from renewable sources.
The EU energy sector’s target is to increase the amount of power produced from renewable energy sources from 13.9% in 1997 to 22.1% in 2010.
The achieve this goal, member states need to establish framework conditions for power produced from renewable energy sources that make it competitive with other forms of power production.
In Norway, most renewable energy comes from hydroelectric power (HEP). The economics of HEP are healthy and the cost of electricity has been low in Norway compared to other EU countries.
An increase in power production by investing in new forms of renewable energy production will be dependent on the authorities creating a favourable environment for this by granting the sector satisfactory framework conditions.
Measures
StatoilHydro is focusing on wind power, tidal power, wave power, methane gas from landfill sites and biomass, as well as combined heat and power (CHP) production. Studies of other forms of power production from renewable sources are being done in parallel.
Published 2007-09-03, 17:58 CET | Updated 2007-09-29, 01:01 CET
