The Oil and Gas Climate Initiative (OGCI) made the launch of “Aiming for Zero Methane Emissions Initiative”. Their main goal: Take the methane emissions as a serious matter and do wherever it takes to improve and get to zero emissions. All this during yesterday´s CERAWeek conferences.
What is “Oil and Gas Climate Initiative“
The group is formed by 12 global oil & gas majors. They represent, more or less, 30% of the oil and gas production all over the world. The initiative founded in 2014; since then their mission has been to push in to actions that mitigate the green house gas emissions from industry.
The members of the OGCI have already reduced their methane emissions by 30% collectively during the past five years. Also they have taken action, setting targets, developing new technologies, participating in other initiatives to increase awareness and more.
The 5 believes for the signatories of the “Aiming for Zero Methane Emissions Initiative”
- Strive to reach zero methane emissions by 2030: This in to their operated gas and oil assets. Also they will encourage their partners to do the same to get better results.
- Avoid the methane venting and flaring: By taking all measures, repairing leaks and preserving security for the people and integrity of operations.
- Annual reports on methane emissions: All those signatories will make a thruthfull report of their emissions.
- Measurement and monitoring technologies: The continued improvement of mechanisms and new solutions to avoid methane emissions.
- Support and implementation of sound regulation: This is also to encourage the inclusion of methane emissions reduction targets as part of the government’s climate strategies.
“Oil Sands: Net Zero Alliance“ might interest you
OCGI Chair, Bob Dudley stated: “We recognize that eliminating methane emissions from the upstream oil and gas industry represents one of the best short-term opportunities. Also contributing to climate change mitigation and for advancing the goals of the Paris agreement”.
Also, OGCI Executive Committee, Bjorn Otto Sverdrup, stated: “This initiative is calling an all-in approach that treats methane emissions as the oil and gas industry treats safety; we aim for zero and we will strive to do what is needed to get there. We are encouraging all oil and gas companies to join us in this approach”.
