The oil and gas industry will remain Aker Solutions’ biggest market, but over the next decade the company will have a more balanced portfolio of products and technologies that either generate renewable energy or removes or substantially reduces CO2 emissions.
“The world will continue to see rising energy demand and the challenge for our industry is the need to deliver this with a significantly lower carbon emissions,” said Luis Araujo, chief executive officer of Aker Solutions. “No company is better positioned than Aker Solutions to deliver the solutions to realize renewable energy offshore and at the same time decarbonize the oil and gas industry.”
In all forward-looking scenarios, the industry will need to provide more energy, with a lower carbon footprint. The pace of the energy transition will be dictated by a number of drivers, such as electrification, efficiency gains, low-emission fuels and accelerated cost reductions of renewables. Still, demand for oil and gas is expected to grow over the next decade, although not as fast as the expected growth in renewable energy.
