Naftogaz Group has joined the Oil and Gas Methane Partnership 2.0 (OGMP), a voluntary global industrial initiative to reduce methane emissions and improve monitoring and reporting.
Launched in 2014 at the UN Secretary General’s Climate Summit and comprising of 62 companies (such as BP, Eni, Equinor, Repsol, Shell and Total) with assets on five continents representing 30 per cent of the world’s oil and gas production, OGMP was established to minimise the impact of greenhouse gases, particularly methane emissions, on the environment.
Specifically, OGMP aims to deliver a 45 per cent reduction in the industry’s methane emissions by 2025 and a 60-75 per cent reduction by 2030. Reducing methane emissions from the energy sector by 90 per cent would shave one-fifth of a degree Celsius from the forecasted rise in the planet’s average temperature by 2050.
“Reducing airborne emissions and the greenhouse effect is not just a priority for global leaders; this is the only possible option for the future of the entire world,” emphasized Naftogaz first deputy CEO Sergiy Pereloma.
“We are a socially responsible company actively involved in the implementation of sustainable development projects, including renewables,” said Mr Pereloma adding that the participation of Naftogaz in the initiative is an important part of the company’s further transformation to embrace a climate-neutral approach to the environment.
Members of the Partnership committed themselves to survey their facilities for nine core sources that make up the majority of methane emissions in typical upstream operations, to evaluate cost-effective technology options to address uncontrolled sources and to report progress on surveys, project evaluations and project implementation in a transparent, credible manner that demonstrates results.
The preparation of the initial reporting to OGMP will be supported by the European Bank for Reconstruction and Development (EBRD) as part of ongoing work under the trilateral memorandum of understanding between Naftogaz, the EBRD and the Ministry of Environment and Natural Resources of Ukraine on reducing methane emissions in Ukraine’s gas supply chains. Managing Director of Industry, Commerce and Agribusiness at EBRD, Jean-Marc Petershmitt called Naftogaz’s decision to join OGMP is a landmark for the whole EBRD region.
UNEP and the European Commission are also finalising plans to set up an independent International Methane Emissions Observatory (IMEO). This planned IMEO will aggregate and analyse multiple methane emissions data streams, including data reported by OGMP member companies, to accelerate reductions in methane emissions globally.
Involving oil and gas companies operating in the EU and globally in the initiative is a key element in the European Commission’s recent methane strategy, which is a cornerstone of the European Green Deal in the energy sector. The relevant legislative initiative supporting the EU’s methane strategy is expected to be submitted in mid-2021.
