Mitigating methane emissions to accelerate the energy transition

The Global Decarbonisation Accelerator encompasses a series of landmark initiatives and is designed to speed up the energy transition and significantly reduce global emissions. The Oil and Gas Decarbonisation Charter (OGDC), which is part of the Global Decarbonisation Accelerator, aims to align the industry to eliminate routine flaring by 2030, to deliver net-zero operations emissions by 2050 and to achieve near-zero upstream methane emissions. Beyond the decarbonisation priorities, the charter points to the need for the oil and gas industry to up its game, including engaging with customers, investing in the energy systems of the future, and increasing transparency in measurement, reporting and independent verification.

In this Action Session we will discuss the role of the GDA, more particularly the OGDC, in supporting oil and gas companies in its ambition to reduce greenhouse gas emissions from their operations.

Role of policy and regulation in ending routine flaring and achieving near zero methane emissions

Flaring operations contribute significantly to climate change by releasing both carbon and methane into the atmosphere. However, by implementing robust policies and regulations that mandate monitoring, reporting, and abatement of emissions, countries can effectively eliminate routine flaring, minimise non-routine flaring, and achieve near zero methane operations. This not only helps combat climate change but also creates opportunities to bolster energy supply by utilising the natural gas that would otherwise have been flared, whether for on-site power generation or sale on the market. Addressing flaring and methane in tandem is essential to attain sustainable and energy-efficient operations.

Attendee insights:

This session will explore policy and regulation strategies aimed at ending routine flaring and mitigating methane emissions as well as the implementation strategies needed to implement them.