The Company is implementing a transition strategy based on two pillars: hydrocarbons (Oil & Gas) on the one hand, and electricity (Integrated Power) on the other. This strategy is based on a strong conviction: to sustainably meet the needs of a growing world, we must provide more energy while emitting less greenhouse gases. This strategy supports our ambition to achieve carbon neutrality, together with society, within the framework set out by the Paris Agreement’s targets.
Global challenges: more energy, less emissions
More energy to fuel human development
Energy is an essential resource, indispensable everywhere for life: for food, lighting, heating or cooling, transport, healthcare, construction and trade.
Today, around 4.6 billion people have insufficient access to energy (less than 70 GJ per capita). Getting them there today would require a 3-fold increase in the energy available to them. By 2050, taking into account the demographic growth of these populations, the energy available will have to be multiplied by 4.
The challenge of the energy transition is therefore twofold:
- to decarbonize the “mature” energy systems of developed countries
- to increase the energy available in the Global South and India by fuelling economic and social development with low-carbon electricity rather than coal.
Less emissions
Since 2023, the decoupling between global energy demand and CO2 emissions from the energy system has been clearly widening. Already observable since the Paris Agreement, this trend has strengthened: between 2023 and 2024, primary energy consumption increased by 2.2%, while the associated CO2 emissions rose by only 0.8%. The decline in the carbon intensity of the global energy system has become clearly measurable.
The global deployment of mature and competitive low-carbon technologies is crucial:
- solar and wind – and natural gas to ensure the long-term balancing of the system – to produce electricity
- electric vehicles and heat pumps to use it
- technologies to reduce methane emissions in the energy system
Reconciling economic and social development with the fight against climate change requires a pragmatic approach to deploy low-carbon technologies at a global scale, taking into account their cost (cost merit curve) and technological maturity.
A two-pillar multi-energy strategy
Our integrated multi-energy strategy is built on two pillars: hydrocarbons – notably liquefied natural gas (LNG) – and electricity (Integrated Power), the energy at the heart of the transition.
