The fundamentals of the world’s energy system are in transition. The world stands at a critical juncture in its commitment to energy transition and action against climate change. Since autumn 2021, the energy system is in severe imbalance – with sky-high prices for gas and electricity. Then came winter and the Ukraine crisis and complex energy and geopolitical impacts. The world’s attention has shifted 180 degrees in 180 days. The intense focus on reducing carbon emissions has diverted attention from climate crisis to supply crisis. These are two sides of the same crisis. This paper briefly addresses challenges and opportunities from Equinor’s portfolio perspective.

Low carbon energy creates competitive advantages in bridging the gap between energy security and climate security. The Smeaheia CO2 storage prospect, lies on the Horda Platform east of the Troll field, is considered to play a significant role for low carbon solutions. Building on more than 25 years of operations with safe CO₂ storage on the Norwegian Continental Shelf, the Smeaheia project will be a major contribution to realize a European network for CO₂ transport and storage.

8,800 kilometres of pipelines on the seabed made Equinor a stable supplier of energy to Europe. This paper will discuss the role of pipelines in the energy transition, from oil and gas to hydrogen transportation & CO2 transportation. Equinor would not have become an energy giant without technology. Innovative subsea solutions have made the impossible possible. Technology innovation will continue to play a key role for the energy transition.