Caspian Energy Journal Caspian European Club
Tuesday, 25 September 2018 13:00

OGCI sets first collective methane target

OGCI sets first collective methane target

The Oil and Gas Climate Initiative (OGCI) has announced a target to reduce by 2025 the collective average methane intensity of its aggregated upstream gas and oil operations by one fifth to below 0.25%, with the ambition to achieve 0.20%, corresponding to a reduction by one third, Caspian Energy News ( reports with reference to the press statement of Total.

This effort represents a significant milestone in tackling a key issue in the fight against climate change and underlines OGCI’s stance in working together to support the goals of the Paris Agreement.

Achieving the agreed intensity target of 0.25% by the end of 2025 would reduce collective emissions by 350,000 tonnes of methane annually, compared to the baseline of 0.32% in 20171.

“Our aim is to work towards near zero methane emissions from the full gas value chain in support of achieving the goals of the Paris Agreement. We have worked to make our ambition concrete, ac-tionable and measurable, helping to ensure that natural gas can realize its full potential in a low-emis¬sions future,” the heads of the OGCI member companies said.

Through its USD +1 billion investment fund OGCI Climate Investments, OGCI aims to increase the ambition, speed and scale of initiatives to reduce greenhouse gases.

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