Austria's OMV joins UNEP's Oil & Gas Methane Partnership
SUMMARY
As part of its sustainability strategy, OMV aims to achieve an exploration & production (E&P) methane intensity of 0.1% or lower by 2030.
By Shardul SharmaPOSTED IN:
Austrian oil and gas producer OMV has joined the Oil & Gas Methane Partnership (OGMP 2.0) of the United Nations Environment Programme (UNEP), it said on April 30.
Methane, a potent greenhouse gas, presents a critical environmental challenge. With OMV’s operations spanning the entire oil and gas spectrum, particularly in exploration and production (E&P) activities, the company recognises the imperative to address methane emissions effectively.
OMV currently implements measures aimed at optimising and decarbonising its operational processes, increasing energy efficiency, reducing flaring and venting, and reducing methane emissions through leak detection and improvement of asset integrity. As part of its sustainability strategy, OMV aims to achieve an exploration & production (E&P) methane intensity of 0.1% or lower by 2030.
“OMV takes the topic of managing and mitigating methane emissions very seriously and this programme will strengthen our efforts to ensure accurate measurement and transparent reporting. It is also set to meet the growing expectations of the capital market,” said Berislav Gaso, OMV executive vice president energy.
The OGMP, launched originally at the UN Climate Summit in 2014, is a collaborative effort between UNEP, the European Commission (EC), the Environmental Defense Fund (EDF), Clean Air Task Force (CATF), the World Bank, the Climate and Clean Air Coalition (CCAC), and nearly 140 companies globally.
