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The Swedish energy company sees huge potential to decarbonise industries like refining, petrochemicals, steel and fertilisers by using the fossil-free technologies on the Swedish west coast
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The investment must be made into carbon capture and electrification, a new report warns
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The country is growing its portfolio to meet heavy industry demands
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It will be headquartered in the UK and is part of the company’s drive towards net zero carbon emissions
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The sale is expected to deliver the energy giant’s target for agreed divestments a year earlier than originally scheduled
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It is investing in three plants which are expected to begin production in 2025
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It is investing £500m in the Forties Pipeline System and £350m in a new energy efficient steam and power plant
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Petrochemicals – i.e. components derived from oil and gas used in daily products like plastics, clothing and detergents – are to account for more than a third of growth to 2030
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The ethane ‘cracker’ is expected to be one of the most efficient and environmentally friendly facilities
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