Gazprom signs Guiding Principles to reduce methane emissions across natural gas value chain
Gazprom signed the Guiding Principles on Reducing Methane Emissions across the Natural Gas Value Chain. In November 2017, the document was inked by such companies as BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total, and Wintershall.
By signing the document, Gazprom made a commitment to further reduce methane emissions from the Company’s facilities and encourage other market participants across the natural gas value chain – from production to the final consumer – to do the same.
The commitment was made as part of the wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change. Since natural gas consists mainly of methane, a greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.
“Through this document, Gazprom reaffirms its environmental responsibility to the international community. Our Company is making considerable efforts to improve global energy security and prevent climate change by strengthening the role of natural gas as a major driver of energy demand,” said Sergey Khomyakov, Deputy Chairman of the Gazprom Management Committee.
The Guiding Principles on Reducing Methane Emissions across the Natural Gas Value Chain were developed in collaboration with the Columbia University, the Environmental Defense Fund, the International Energy Agency, the International Gas Union, the Oil and Gas Climate Initiative, the Climate Investment Funds, the Rocky Mountain Institute, the Sustainable Gas Institute, the Energy and Resources Institute, the University of Texas at Austin, and UN Environment.
The document aims to continually reduce methane emissions, advance strong performance across gas value chains, improve accuracy of methane emissions data, advocate sound policies and regulations on methane emissions, and increase transparency.