Russian integrated energy company Rosneft has reviewed the Company’s Carbon Management Plan for the period until 2035 which will form the foundation for Rosneft’s environmental agenda in the context of low-carbon economy, including climate risks management and defining opportunities related to the future energy demand.
One of the key areas of the Company’s business within the implementation of the Carbon Management Plan will be the 30 per cent emissions intensity reduction in Upstream by 2035 and prevention of greenhouse gas emissions of 20 million tons in CO2 equivalent. Rosneft will also continue its efforts under the Energy Savings and Associated Petroleum Gas (APG) Utilisation Programs, aimed at zero routine flarings of APG. With that in mind, Rosneft is planning to increase the share of gas in the Company’s output to more than 25 per cent.
“Rosneft finds itself in a unique position in terms of hydrocarbons supply with a low carbon footprint to satisfy the growing global energy demand,” commented the CEO and Chairman of Rosneft’s Management Board Igor I. Sechin. “As one of the leaders of the global energy sector, with a vast and efficient resource base, we set a goal in our 2035 Carbon Management Plan to reduce greenhouse gas emissions and produce more energy with less environmental impact”.
Another area of activity will be focused on the optimisation of emissions from power generation. This includes the analysis of opportunities to replace conventional power plants with electricity generated from low-carbon and renewable energy sources.
Rosneft has a high potential for underground storage facilities and depleted fields reservoirs for Carbon Capture, Utilisation and Storage (CCUS). Such projects will provide the Company with an opportunity to use the existing infrastructure for CCUS and to take actions along the entire CCUS value chain, which includes neutralisation, transportation and storage of carbon.
Another important area is methane emissions reduction, which has a much higher climate impact potential compared to CO2. Since 2019, the Company has been running a comprehensive program to reduce methane emissions. Expansion of this program includes the introduction of innovative technologies such as drones, laser-based and heat-imaging scanners, ultrasonic detectors, which will contribute to the reduction of methane emission intensity to levels below 0.25 per cent.
“To further reduce emissions from the Company’s products, we continue the program to expand the offer of compressed natural gas at retail sites and we are also reviewing options to manufacture new green and clean fuels, such as hydrogen, bio-diesel and sustainable aviation fuel,” reads the company’s statement.
Finally, another important aspect for the carbon footprint reduction is the use of natural carbon sinks. Planting more than one million trees per year on average, Rosneft is already making a significant contribution to greenhouse gases absorption by forests. For its 2035 program, the Company has set an even more ambitious target – to unlock the absorption potential of Russia’s forests and to develop a large-scale reforestation and forest maintenance program to offset emissions.