Norwegian-based Equinor, the company behind the Bay du Nord project in the Newfoundland offshore, is holding its Annual General Meeting in Stavanger, Norway today.
The company has put forward an Energy Transition Plan that will be voted on during the AGM.
The plan includes reducing greenhouse gas emissions to 50 per cent of 2015 levels, reducing net carbon intensity by 20 per cent by 2030 and 40 per cent by 2035 with a goal of more than 50 per cent by 2030.
It is also developing the capacity to store 5 to 10 million tonnes of CO2 per year by 2030 and 15 to 30 million tonnes per year in 2035.
Environmental group, the Sierra Club of Canada meanwhile is encouraging those with concerns about oil and gas development and its impact on climate to send a message to Equinor to “abandon Bay du Nord and pursue renewable energy in Newfoundland and Labrador instead.” They will protest outside the company’s Canadian office in St. John’s at 12 pm NT.
