In the wake of the European gas crisis, Ekonor has a hand in all pipelines, its investment in oil and gas exports is stronger than ever, and it will not forget the company’s ever-expanding renewable portfolio. Ekonor is an example of what oil is actually doing.
As much of Europe continues to struggle with severe gas shortages, Ekonor announced this week that it will increase gas exports. The decision was made after the company was approved by the Ministry of Petroleum and Energy to grow its products on the Norwegian continent. Production for the gas year will increase by one billion cubic meters per year from October 1.
The increase is aimed at supplying gas to Europe, which is in dire need of winter. This is expected to increase as wholesale gas prices in the UK increase by 70 per cent in August and supply shortages continue. Gas prices throughout Europe have reached unprecedented levels since 2014, indicating the severity of the situation.
After 50 years of production in the triple field, 50 percent of the gas will still remain in the ground, and 715 billion cubic meters of renewable gas remains, so the need to increase gas production was music for Ekonner’s ears. Ekinor recently completed the completion of the Troll Level 3 project, which prepares the company for this increase in production. It also reduces carbon emissions and ensures that they are more suitable for carbon.
Ecuador does not just supply fuel to meet demand. As Asia’s oil and gas market expands, Ekonor has been there to meet demand, doubling its raw material exports to the region since 2017.
Despite global demand for Covide, Ecuador was able to increase its exports to Asia by 30 percent last year. 19 Limits and Uncertainty.
Over the next five years, Asia is projected to contribute 90 percent of the world’s growing oil demand, meaning that oil producers around the world will compete for trade in the Great Depression. India and China, in particular, are the biggest drivers of oil demand in the region, with their ever-growing population and huge industry.
Ecuador provides the perfect solution to the region’s demand for raw materials from Johan Sverdroff’s oil field. Ecuador plans to produce one of the world’s lowest carbon carriers, supporting the Asian states’ demand for it and responding to international pressure.
Currently, private sector filters in China are the largest Asian consumer of Johan Sverdrude’s raw materials. Echinor estimates that global oil demand will be 20 times higher than the company’s current production, making it an essential commodity for low carbon emissions in the coming decades.
In some parts of the world, despite pressure to move away from fossil fuels and demand, the economy of Ekonor’s oil and gas industry has grown, and the company has not stopped investing in the renewable sector.
This month, the Norwegian government has invested $ 10 million in the Ecuador-led ocean grid program. The aim is to develop and operate a wind grid in three years with Norwegian power companies and private companies.
“Our goal is to better understand the ocean winds,” said Florian Shukurt, vice president of Ecuador Beach Wind Solutions. [off Norway]. ”“ We have to build wind farms in a cost-effective way, and of course we have to reach the customers. Cooperation between energy companies, research institutes and suppliers is crucial to our success. ”
Ekunornoor will begin construction of the North Sea 11-turbine floating ocean farm in late 2022. It is expected to be the world’s first floating wind farm to complete offshore oil and gas resources. Operations. Equatorial Guinea is the third largest windmill in the world, built on the then Highland Scotland.
Much of the company’s success comes from its willingness to work closely with other companies and professionals in the development of portfolio of various energy projects. For example, Ecuador recently announced that it has signed an agreement with Russian company Rosneft to develop low-carbon solutions in its joint projects. This has helped Ecuador to achieve longevity in a world where fossil fuels are being pushed away, or at least in the world to produce less carbon-based oil and gas.
As companies such as Total-Energy Total, and Royal Dutch have been forced to change their energy projects due to international pressure to meet their green policies, Ekonor is accelerating its global carbon offsets and gas production. A world leader in wind energy production, showing that global energy is not needed in the future.
At Felicity Bradstock for Oilprice.com
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