Neptune Energy has been awarded Gold Standard status by the United Nation’s Environmental Programme (UNEP), for its plans to reduce methane emissions to net zero by the end of the decade.
METHANE
The Oil and Gas Methane Partnership 2.0, a voluntary initiative launched by the UNEP, gave the award which was featured in the UN’s recent International Methane Emissions Observatory (IMEO) report.
The report provides detailed global emissions data to help combat methane levels and track progress against companies’ and governments’ commitments.
TECHNOLOGIES
“We already have one of the lowest methane intensities in the oil and gas sector at 0.02%, compared with the industry average of 0.20%, and we’re on track to achieve our target of net zero methane emissions by 2030,” said Neptune’s director of global HSEQ* Simon Taylor.
“The gold award recognises the clear plans we’ve put in place to cut methane emissions from our operations and our commitment to transparent reporting.
“That includes employing the latest technologies to detect and reduce methane emissions, eliminating routine flaring and upgrading equipment at our sites.”
TARGETS
Earlier this year, the company joined the Aiming for Zero Methane Emissions Initiative, a project to cut emissions of the harmful greenhouse gas, developed by the Oil and Gas Climate Initiative (OGCI).***
Participants aim to reach near zero methane emissions from their operated assets by the end of this decade, avoid methane venting and flaring, and report transparently methane emissions.
The initiative adds to Neptune’s work with the Environmental Defense Fund** to deploy advanced drone technologies to measure methane emissions at its operated Cygnus platform in the UK North Sea.
* Health, safety, quality and environment
**Environmental Defense Fund (EDF) is a United States-based non-profit environmental advocacy group
***OGCI members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies