Struggling to find the balance in the Energy Transition – interview with Lundin Energy Norway

Valley Voice – a column where our cluster members are in focus. What are they doing right now? How are they contributing to the Energy Transition? And which challenges and opportunities lay ahead?  

Receiving the baton from Cognite last week, we had a talk with Kristin Færøvik, Managing Director at Lundin Energy Norway. – If the society, as a whole, does no longer understand what the good solutions are in terms of both environment and energy efficiency, that will keep me up at night, says Kristin Færøvik. 

1. What are you doing right now?

My day started out exactly as varied as it usually does with everything from evaluation of a transaction opportunity, to a meeting with an important supplier, or getting an update on the Pandemic situation. Today, I am signing a contract with Odfjell for an installation to be working for us from the summer.  

 2. How is Lundin Energy Norway contributing to the Energy Transition?

Our most important contribution is delivering oil and gas from the Norwegian continental shelf with as low carbon footprint as possible. The global picture is that we will be dependent on all forms of energy in the foreseeable future. And we will do our part to deliver oil and gas with as low carbon footprint as possible. We have set a goal of being fully carbon neutral by 2025. And we will manage to do so with, for example, the help from onshore power to Edvard Grieg and Johan Sverdrup, and by investing in projects that gives more renewable energy in the Nordic power market.  

3. What are the biggest challenges and opportunities in the future? 

The biggest challenge globally, is covering the energy need in a growing market in an acceptable way, both with regards to price and the footprint. The environmental impact needs to go down and the price must not get too high. The most energy efficient solutions are not always the most environmentally friendly, and that is the dilemma we are facing today. We should not be led to think that “new” technical solutions are better, necessarily. Several are pointing out a current trend of underinvesting in the oil and gas industry, which in the long term may have a negative impact on the access to energy as well as the price level.  

4. What keeps you up at night with regards to the Energy Transition?

For the time being, I sleep very well at night. However, what may keep me up in the future is if the society together no longer understands what the good solutions are in terms of both the environment and energy efficiency. We should accept that transition and transformation is a good in itself. It creates dynamics and movement which provides better solutions. And then we need to find the balance between the natural change, and political will and push. It is the latter balance we are struggling to find, the way I see it.  

5. What is most valuable about being a member of Energy Valley?

The most important aspect for Lundin Energy Norway is the access to an important network and meeting arenas. To be able to share insights and knowledge across companies is important. And Energy Valley contributes to that.   

 6. Is there any book that have inspired you in the way you lead?

I think most of the so-called Leadership-literature I have started have been extremely boring or predictable, but Ona Fyr by Ingebrigt Steen Jensen, I have read twice. I hope I can create some excitement, which is the sentiment that I remember best from the book.  

7. Which Energy Valley member do you want to pass the baton on to?

I want to send the baton on to Kongsberg Maritime. They are an important industry player in our region and have “state-of-the-art” solutions for a global marked we, as a Nation, should be proud of.   

Thank you, Kristin!