Ukraine’s Naftogaz has said the group has joined the Oil and Gas Methane Partnership 2.0, a voluntary global industrial initiative to reduce methane emissions and improve monitoring and reporting in this area.
“Reducing airborne emissions and the greenhouse effect is not just a priority for global leaders; this is the only possible option for the future of the entire world. Transition to a climate-neutral economy is on the agenda of all Fortune 500 companies, including those operating in the energy sector. Naftogaz Group is no exception,” Naftogaz first deputy CEO Sergiy Pereloma said. “We are a socially responsible company actively involved in the implementation of sustainable development projects, including renewables,” he added.
“Naftogaz participation in the initiative for enhanced measurement, reporting, and reduction of methane emissions is an important part of the further transformation of our business as we embrace a climate-neutral approach to the environment,” Pereloma said.
The preparation of the initial reporting to OGMP will be supported by the European Bank for Reconstruction and Development (EBRD) as part of ongoing work under the trilateral memorandum of understanding between the bank, Naftogaz, and the Ministry of Environment and Natural Resources of Ukraine on reducing methane emissions in Ukraine’s gas supply chains.
UNEP and the European Commission are also finalising plans to set up an independent International Methane Emissions Observatory (IMEO). This planned IMEO will aggregate and analyse multiple methane emissions data streams, including data reported by OGMP member companies, to accelerate reductions in methane emissions globally.
Involving oil and gas companies operating in the EU and globally in the initiative is a key element in the Commission’s recent methane strategy, which is a cornerstone of the European Green Deal in the energy sector. The relevant legislative initiative supporting the EU’s methane strategy is expected to be submitted in mid-2021.
The EU Energy Community Secretariat and the EBRD welcomed Naftogaz Group’s decision to join the initiative.
“Naftogaz’s decision to join OGMP is a landmark for the whole EBRD region,” said Jean-Marc Petershmitt, managing director of industry, commerce and agribusiness at EBRD. He reminded that the EBRD is a major investor and supporter of sustainable energy in Ukraine. “We are happy to continue providing support to Naftogaz in the vital task of decarbonising Ukraine’s gas supply chain,” he said.