API Updates GHG Emissions Compendium
The American Petroleum Institute (API) has revealed that it has updated its compendium of greenhouse gas (GHG) emissions methodologies for the natural gas and oil industry.
The latest iteration, which is the fourth edition of the compendium and the first update since 2009, includes expanded methodologies for liquefied natural gas, as well as carbon capture, use and storage, the API notes. The compendium is described by the API as the foundational reference used by companies and governments across the world as methodologies for reporting GHG emissions from natural gas and oil operations.
“America’s natural gas and oil industry remains focused on driving progress on climate solutions, including enhanced GHG emissions reporting, while meeting the world’s growing energy demand,” the API’s vice president of corporate policy, Stephen Comstock, said in an organization statement.
“Many companies have reported on GHG indicators for over 20 years, and we are committed to continuous improvement, including this comprehensive update of methodologies in the API compendium,” he added.
“The updated compendium was developed in consultation with our members and stakeholders around the world and reflects the industry’s leadership on sustainability issues and efforts to drive consistency and transparency in climate reporting,” Comstock went on to say.
In the latest compendium’s preface, API President and CEO, Mike Sommers, states, “experts agree that API’s compendium of greenhouse gas emissions methodologies for the natural gas and oil industry serves as a key resource for companies striving to meet that dual challenge in ways that yield tangible results”.
“As described in API’s Climate Action Framework, the compendium supports timely and accurate estimation and reporting of greenhouse gas emissions. It is also the basis for industry transparency going forward,” Sommers adds in the statement.
The compendium, which was first published in 2001, provides the methodology details for all natural gas and oil industry segments to consistently estimate direct emissions of greenhouse gases through the entire value-chain, the API highlights, adding that it is the only industry association to publish such a resource.
The API and its members commit to delivering solutions that reduce the risks of climate change while meeting society’s growing energy needs, the organization notes on its website. The API’s site also highlights that the organization supports global action that drives greenhouse gas emissions reductions and economic development.
The API represents all segments of America’s natural gas and oil industry, which is said to support more than 11 million U.S. jobs. The organization has nearly 600 members which it says produce, process and distribute the majority of the nation’s energy.
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