Neptune Energy has joined the Aiming for Zero Methane Emissions Initiative, a project to cut emissions of the climate-warming gas to “near zero” by 2030.
Developed by the Oil and Gas Climate Initiative (OGCI), the initiative aims for methane emissions to be “treated as seriously as the oil and gas industry already treats safety: aiming for zero and striving to do what it takes to get there”.
The OGCI group – led by CEOs of major oil and gas producers – was formed to accelerate the industry response to climate change in support of the Paris Agreement and its aims.
Signatories to the OGCI’s methane reduction drive must aim to reach near zero methane emissions from their operated assets by the end of this decade, avoid methane venting and flaring, and report methane emissions annually and transparently.
Under the scheme they are also encouraged to introduce new technologies for methane monitoring, measurement and mitigation, and to support implementation of regulations to tackle methane emissions.
It works alongside other efforts such as the World Bank’s ‘Zero Routine Flaring by 2030’ drive, as the industry moves to reduce operational emissions.
Neptune has already set an ambitious 2025 methane emission intensity target of 0.0015% ahead of its goal of zero methane emissions by the end of the decade, and was recently awarded a Gold Standard status by the Oil & Gas Methane Partnership (OGMP).
Chief executive Pete Jones said: “We already have one of the lowest methane intensities in the industry at 0.02% and are on track to achieve our own target of zero methane emissions by 2030, so fully support this initiative.
“To achieve our targets, we are deploying a full range of initiatives that include using best available technologies to eliminate routine flaring, upgrading equipment and improving energy efficiency.”
Indeed, Neptune has already completed a pioneering study in partnership with the Environmental Defense Fund (EDF), which used rotary and fixed-wing drones with methane-sensing equipment to survey the company’s Cygnus platform in the Southern North Sea.
It joins the likes of bp, Eni, Equinor, ExxonMobil, Repsol, Shell and TotalEnergies in participating in the reduction drive, alongside other suppliers and contractors such as Worley, IPIECA and Wood Mackenzie.
OGCI chairman Bob Dudley added: “We are proud to welcome Neptune Energy to the Aiming for Zero Methane Emissions Initiative. Recognising that eliminating methane emissions from the oil and gas industry represents one of the best short-term ways of addressing climate change, I encourage others to join this ambitious effort to eliminate the oil and gas industry’s methane footprint by 2030.”