The energy landscape has always been dynamic, however, the ever-growing need for emission action has increased significantly over the past few years, accelerating the push for renewable sources to become the dominant share of the energy mix. Major oil and gas corporations are transitioning into energy companies, while suppliers are shifting gear to reflect these evolving perspectives. At the same time, the availability of energy is becoming less predictable, and gas and electricity prices are more volatile.
The energy transition outlook shows that hydrocarbons will remain a major source of energy for decades to come. However, a decarbonization pathway for the entire hydrocarbon value chain will be required to meet our sustainability commitments. With more than 70% of the planet covered by water, offshore and subsea technologies can be repurposed, offering great opportunities to generate new energy and low-carbon solutions. These opportunities include, among others, sustainable energy production and storage, carbon disposal, and zero-emission shipping.
For more than half a century, the subsea industry has developed an outstanding array of technology and competence. We believe that these will not become obsolete during the energy transition. Instead, they will be instrumental building blocks to realize new prospects and be part of the low-carbon energy market.
This presentation will provide some insights into how some of the conventional subsea technologies can contribute to decarbonization, and how our existing experience and know-how will be relevant in future offshore energy solutions, both in the short and long term.