Not a member? Sign up for regular news and updates SUBSCRIBE

SUMMARY

The project was launched by members of the Oil and Gas Climate Initiative in March.

By Joseph Murphy

Neptune announced on July 6 it had joined the Aiming for Zero Methane Emissions initiative, which is targeting a reduction in oil and gas industry methane emissions to nearly zero by 2030.

The project, launched by members of the Oil and Gas Climate Initiative (OGCI) in March this year, covers operated assets, and aims to avoid all methane venting and flaring and report emissions annually and transparently. They are also encouraged to deploy new technologies for methane monitoring, measurement and mitigation, and support regulations that aim to address methane emissions.

Neptune is already targeting an emissions intensity of 0.0015%, and was recently awarded Gold Standard status by the Oil & Gas Methane Partnership (OGMP).

"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, CEO Pete Jones said in a statement. "To achieve our targets, we are deploying a full range of initiatives that include using the best available technologies to eliminate routine flaring, upgrading equipment and improving energy efficiency."