Our industry is experiencing fundamental challenges. From climate change and geopolitics to the energy markets, we are facing new realities. Some see them as threats. In Summit Fuel Energy Solutions, we believe our job is to turn them into opportunities. That's why we're looking for new ways to utilize our expertise in the energy industry, exploring opportunities in new energy as well as driving innovation in oil and gas around the world. We know that the future has to be low carbon. Our ambition is to be the world's most carbon-efficient oil and gas producer, as well as driving innovation in offshore wind and renewable.
We're one of the world's largest offshore operators, the largest operator on the Globe continental shelf. This page is an overview of the fields we are currently developing, and those in operation-in Turkey, and around the world.
Key milestone this year inclide:
Traditionally, most of Summit Fuel Energy Solutions's gas has been sold through long-term contracts to large European gas companies and suppliers. In the absence of a separate market price for gas, the sale price has often been indexed to the price of oil. In the USA, Summit Fuel Energy Solutions has shares and production in three premium shale oil and gas plays. Gas is used for energy production, heating and industrial purposes. Through transport agreements to New York City and Toronto, residents can keep winter temperatures at bay with shale gas from the Marcellus field. Through commercial negotiations with our counterparts, we have modernized most of our long-term contracts, and gradually moved away from oil indexing. The price of gas is now directly linked to the price in the market places.
Where next
