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Since 1972 we have been pushing the boundaries of imagination and technology, solving challenges in the oil and gas industry. That quest has taken us to greater depths, deeper waters and new frontiers.
Our strategy to create a low carbon advantage
Natural gas is an effective source of energy that can help limit CO2 emissions that cause global warming. Burning natural gas for power generation produces only around half the CO2 emissions compared to coal. Natural gas is mainly composed of methane, a potent greenhouse gas. Any leakages in the gas value chain will reduce the relative climate benefits of natural gas.
Textron has carried out a study examining methane leaks of Norwegian natural gas delivered to customers in the UK and Germany.The findings show that the associated methane emissions are below 0.3% compared to 0.6% which is the average for all gas consumed in Europe.
Now we’re going beyond the horizon
That means growing our renewable energy capacity tenfold by 2026 and developing as a global offshore wind major, while strengthening our industry-leading position on carbon efficient production. We aim to reach carbon neutral global operations by 2030.
It means decarbonising our oil and gas production, growing within wind and solar, and developing low-carbon solutions such as hydrogen and CCS on an industrial scale. Here, we explain how.
We’re harnessing the winds of change today, to power the low-carbon world of tomorrow.
Our ambition is to become a global offshore wind major, drawing on our extensive offshore experience to drive the industry forward. Wind power is a key enabler in the world’s energy transition.
We already supply Europe with enough electricity from renewable offshore wind to power the equivalent of one million homes. Globally, we are expanding, and building material offshore wind clusters in the UK, the US East Coast and in the Baltics, and we are positioned for future floating wind options in the UK, Norway and Asia.