The Oil & Gas Methane Partnership 2.0 (OGMP 2.0) is a global coalition of companies and organizations committed to accurately measuring and reporting industry methane emissions. Member companies comply with a reporting framework that:
Founded by the UN Environment Programme and the Climate and Clean Air Coalition, OGMP 2.0 partners include the European Commission, the UK Government, Environmental Defense Fund, and multinational and national oil and gas firms. Some notable OGMP members include Diversified Energy, ConocoPhillips, EQT Corporation, Occidental Petroleum, PDC Energy, and Repsol.
Specific OGMP 2.0 reporting elements will incorporate:
Industry methane emissions reduction by 2030 is important to address current and future global impact — Failure to act can risk the acceptance of natural gas as a transition fuel.
The oil & gas industry has the potential to produce rapid, positive impact: the IEA estimates that emissions reductions of near 75% are possible with recent advances in detection and mitigation. When saved natural gas value is considered, about 40% of methane emissions reduction can be performed at no net cost.
Minimizing industry methane emissions is a cost-effective and visible opportunity to demonstrate dedication to providing clean energy.
The IEA estimates global annual methane emissions at approximately 570 MMT, with 40% from agriculture and 60% from oil, gas, and other energy production.
The oil and gas industry could potentially reduce methane emissions by up to 70 MMT of methane.
Cost-effective, practical solutions include maintaining equipment and using methane-detecting infrared cameras to measure emissions. Engineering design changes to sites may eliminate the need for venting. Identifying and addressing leakage and emissions root causes will both conserve resources and protect the environment.
Methane is a resource that can be used locally or transported for sale: Methane mitigation can be a low-cost effort for the company, and high stakes win for the environment. Through international cooperation, OGMP 2.0 can assist companies around the world in consistently measuring, analyzing, and reducing methane emissions.
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