Qatar Petroleum signed a set of Guiding Principles on reducing methane emissions across the natural gas value chain stretching from production to the final consumer.
Mr. Saad Sherida Al-Kaabi, Qatar Petroleum President & CEO, signed the Guiding Principles document at a special ceremony in Doha attended by Royal Dutch Shell CEO Mr. Ben van Beurden, whose company is a signatory to the principles.
Mr. Saad Sherida Al-Kaabi reaffirmed Qatar Petroleum’s continued commitment to the further reduction of methane emissions and said “this was part of our wider environmental responsibility enshrined in our corporate values and operational standards.”
Commenting on the signing, Mr. Al-Kaabi said “As the world’s leading liquefied natural gas producer, we have always held on to the highest of environmental standards and practices, including building the Jetty Boil-Off Gas Recovery Project, one of the largest environmental investments in the world and the biggest of its kind.”
“By signing the Guiding Principles on reducing methane emissions across the natural gas value chain, we are sending a stronger message of our continued commitment to be a responsible environmental steward by running our operations safely while minimizing environmental impacts. We take this responsibility seriously and we are pleased to join our international industry peers in adopting the guiding principles to help achieve global climate goals,” Mr. Al-Kaabi concluded.
With this signing, Qatar Petroleum becomes the first Middle East national oil company to join 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 potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.
On this occasion, Mr. Mark Radka, Head of the United Nations Environment Program’s Energy and Climate Branch, had earlier commended the Guiding Principles and said “Numerous studies have shown the importance of quickly reducing methane emissions if we’re to meet growing energy demand while achieving climate change and clean air goals. We’re delighted that Qatar Petroleum has has joined this effort as they provide an excellent framework for cutting methane emissions across the entire natural gas value chain and reporting on the reductions achieved.”
The Guiding Principles 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 principles aim 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.
Current signatories to the Guiding Principles are BP, Eni, ExxonMobil, Gazprom, Repsol, Shell, Statoil, Total and Wintershall.