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New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
OGCI aims for zero methane emissions from oil and gas operations by 2030
16/3/2022
News
The Oil and Gas Climate Initiative (OGCI) has launched an Aiming for Zero Methane Emissions Initiative which calls for an all-in approach that treats energy industry methane emissions as seriously as the industry treats safety.
Recognising that eliminating methane emissions from the upstream oil and gas industry represents one of the best short-term opportunities for contributing to climate change mitigation and for advancing the goals of the Paris Agreement, the initiative is already supported by the CEOs of Aramco, BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies. The OGCI is calling for all oil and gas companies to join the scheme.
Signatories to the initiative believe that virtually all methane emissions from the industry can and should be avoided and the goal is to reach near zero methane emissions from their operated oil and gas assets by 2030. They will also encourage their partners to achieve similar results.
Putting in place ‘all reasonable means to avoid methane venting and flaring, and to repair detected leaks, while preserving the safety of people and the integrity of operations’, the companies plan to report annually and transparently on their methane emissions.
As technology evolves, methane emissions estimates will be supplemented with more monitoring and measurement technologies, with new solutions introduced to avoid methane emissions. Measurement, reporting and verification (MRV) mechanisms will be continuously improved.
The initiative also supports the implementation of sound regulations to tackle methane emissions and is calling on governments to include methane emissions reduction targets as part of their climate strategies. It supplements other multi-stakeholder initiatives, such as the Methane Guiding Principles, the Oil and Gas Methane Partnership 2.0 and the Global Methane Alliance.
Remaining committed to its methane intensity target of below 0.20% by 2025, the OGCI is to review its shared targets for 2025 and onwards in the light of this new initiative.
CCUS hub
OGCI also recently launched The CCUS Hub, a web-based platform designed to support regulators, emitters and potential hub developers interested in setting up carbon capture, use and storage (CCUS) hubs globally.
These hubs reduce costs and accelerate industrial decarbonisation by creating collective CO2 transport and storage infrastructure for numerous emitters within a region.
The platform has three parts:
- The CCUS Hub search – an interactive map tool that identifies 279 potential CCUS hubs in 56 countries, matching clusters of CO2 sources with possible storage locations and estimates of cost per tonne.
- The CCUS Hub Playbook – providing practical lessons from the people behind the most advanced CCUS hubs, searchable by theme or profile and available online and in a pdf format.
- Hubs in Action – overviews of six emerging CCUS hubs that were part of OGCI’s initial KickStarter initiative.
