The Williams Companies, Inc.
WMB
has inked a Memorandum of Understanding (MoU) with
Microsoft Corporation
MSFT
to tap opportunities to use digital technology and innovation to modernise its energy infrastructure network while simultaneously attaining its net-zero emissions targets. Notably, the company boasts one of the country’s major energy infrastructure networks.
Williams’ president and CEO Alan Armstrong feels that the company shares Microsoft’s ambition of a low-carbon future. It is also dedicated to assist its clients in achieving their sustainability objectives while meeting energy demand through dependence on clean natural gas and renewable energy sources. He further believes that, “This alignment between two forward-looking companies demonstrates the environmental and economic benefits that are possible when we work together to achieve reductions in carbon emissions.”
Williams and Microsoft will use the MoU to scout lower-carbon options with an emphasis on the creation of a hydrogen economy, renewable natural gas products, carbon capture and storage, and energy storage technologies. We are optimistic about the way Williams may enhance emissions monitoring and reporting by leveraging Microsoft Azure services and solutions plus utilize a connected workforce and data-driven analytics to boost operational efficiencies.
Last year, this currently Zacks Rank #3 (Hold) Williams had announced its strategy for a sustainable environment wherein it is targeting a 56% reduction in greenhouse gas emissions by 2030 from the 2005 baseline. This, in turn, will enable it to inch closer to the net-zero greenhouse gas emission goal by 2050. Further, Williams’ climate commitment approach will be backed by this recently signed MoU. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
The company’s sustainable environment plan is aimed at addressing climate change issues and creating a clean-energy economy with low-carbon footprint. To meet this objective, the U.S. natural gas processing and transmission firm is prepping for common sense methane emission reduction by spotting leakages and renovating equipment as well as assessing improvements in the same on a site-specific basis. Most importantly, the company is expanding its renewable energy storage. Its near-term efforts will also include exploration of renewable energy opportunities, comprising renewable natural gas (RNG) and solar energy.
The global energy landscape has changed over the years with chief focus on environmental protection. As a result, conventional energy is steadily declining while renewable energy is fast expanding. In this context, the majority of oil and gas firms, such as
Shell
RDS.A
,
Equinor ASA
EQNR
and others are also in the early phases of energy transition to low-carbon emissions.
Shell, like Williams, formed a partnership with Microsoft a few months ago to develop advanced solutions for achieving net-zero emission. The company’s objective to create clean and efficient energy with Microsoft’s expertise in high technology, such as AI, cloud computing and the IoT led to a number of resourceful initiatives to minimize carbon footprint as well as develop a safer and cleaner working environment.
Having joined the club is Norwegian energy major Equinor in a bid to capitalize on the renewable energy space. To that end, it is investing actively in renewable energy projects comprising power generation from solar and wind energy. Equinor expects to ramp up its production capacity from renewables to 4-6 GW by 2026.
Company Profile
Founded in 1908, Oklahoma-based Williams is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Equipped with a widespread pipeline system, which covers more than 33,000 miles, it is one of the largest domestic transporters of natural gas by volume.
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