Ukraine’s Naftogaz Group vows to cut back methane emissions

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Ukraine’s Naftogaz has mentioned the group has joined the Oil and Gas Methane Partnership 2.0, a voluntary world industrial initiative to cut back methane emissions and enhance monitoring and reporting on this space.
“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 mentioned. “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 mentioned.
The preparation of the preliminary reporting to OGMP will likely be supported by the European Bank for Reconstruction and Development (EBRD) as a part of ongoing work below the trilateral memorandum of understanding between the financial institution, Naftogaz, and the Ministry of Environment and Natural Resources of Ukraine on lowering methane emissions in Ukraine’s fuel provide chains.
UNEP and the European Commission are additionally finalising plans to arrange an unbiased International Methane Emissions Observatory (IMEO). This deliberate IMEO will combination and analyse a number of methane emissions information streams, together with information reported by OGMP member corporations, to speed up reductions in methane emissions globally.
Involving oil and fuel corporations working within the EU and globally within the initiative is a key factor within the Commission’s current methane technique, which is a cornerstone of the European Green Deal within the vitality sector. The related legislative initiative supporting the EU’s methane technique is anticipated to be submitted in mid-2021.
The EU Energy Community Secretariat and the EBRD welcomed Naftogaz Group’s resolution to affix the initiative.
“Naftogaz’s decision to join OGMP is a landmark for the whole EBRD region,” mentioned Jean-Marc Petershmitt, managing director of trade, commerce and agribusiness at EBRD. He reminded that the EBRD is a serious investor and supporter of sustainable vitality in Ukraine. “We are happy to continue providing support to Naftogaz in the vital task of decarbonising Ukraine’s gas supply chain,” he mentioned.