Companies Must Adapt Model to Unlock Upstream Funding

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
U-STUDIOGRAPHY DD59/Shutterstock

There are still enough banks and capital willing to fund oil and gas assets, but companies must offer “a model that fits better with how banks think about what your company should be doing going forward”, according to Euan Shirlaw, the CEO of Danish oil and gas company BlueNord. This likely means being more natural gas focused, having explicit sustainability targets, and having CCS as part of your business, as it “positions you on the right end of the spectrum” as opposed to a more mature oil-based portfolio. There is more appetite to lend to companies with CCS projects, but at the same time “without a lot of clarity around what the business model is, it’s quite difficult to come up with a bankable investment case,” he says.

Carbon Capture (CCS), Offshore Oil and Gas, Gas Pipelines, Gas Supply, Leadership Interviews
Wanda Ad #2 (article footer)
Many outstanding questions remain one year after the alleged sabotage that took Gazprom's Nord Stream pipes out of commission.
Tue, Sep 19, 2023
Egypt has launched a new upstream bid round for 23 blocks as it faces amid a looming gas supply crunch.
Mon, Sep 25, 2023
Private players Castex and Carbonvert are teaming up for a project in Louisiana state waters that could potentially provide CO2 storage for planned ammonia and LNG facilities.
Mon, Sep 25, 2023