OGMP awards Neptune gold status for methane reduction plans
SUMMARY
Neptune already has one of the lowest methane emissions intensities in the industry.
By Joseph MurphyEuropean oil and gas producer Neptune Energy announced on November 9 it had been awarded Gold Standard status by the Oil & Gas Methane Partnership (OGMP) for its plan to curb methane emissions.
OGMP, led by the UN Environment Programme and involving many of the world's leading oil and gas companies, awards companies Gold Standard status if they have a clear and credible plan to reduce methane emissions by 45% or more and report their progress annually.
Neptune has set a methane emissions intensity target of 0.0015% by 2030, versus 0.01% at present. The company notes it already has one of the lowest intensities in the industry, comparing with an industry average 0f 0.23%.
"The OGMP’s recognition of the clear plans we’ve developed to reduce operational methane emissions and to transparent reporting is most welcome and enables us to support the work of the IMEO and the objectives of the Global Methane Pledge," Neptune said.
Neptune also recently endorsed the World Bank's initiative to make routine flaring a thing of the past by the end of the decade.
