Neptune Energy Endorses Eliminating Gas Flaring By 2030

Neptune Energy Endorses Eliminating Gas Flaring By 2030
Oil and gas company Neptune Energy has endorsed the World Bank’s Zero Routine Flaring by 2030 initiative.

Oil and gas company Neptune Energy has endorsed the World Bank’s Zero Routine Flaring by 2030 initiative.

The initiative brings together governments, companies, and development institutions to eliminate routine gas flaring in oil production no later than 2030.

Neptune Energy stated that eliminating the routine flaring of gas was a significant and necessary step towards reducing emissions and ensuring valuable energy resources were not wasted.

“Neptune has set ambitious emissions reduction targets across our operations, with our endorsement of World Bank’s Zero Routine Flaring by 2030 initiative further demonstrating our commitment. We already have one of the lowest methane intensities in the industry at 0.02 percent. But we want to go further, which is why we are supporting this initiative,” Neptune Energy’s VP Operations Europe Pete Jones said.

“This commitment is in line with our broader decarbonization initiatives, which include ambitious targets to achieve a carbon intensity of 6 kg CO2/boe and net-zero methane emissions by 2030. To achieve these targets, Neptune is deploying a full range of initiatives which include using best available technologies to eliminate routine flaring, upgrading equipment, and improving energy efficiency,” he added.

The company added that Neptune would report annually on its flaring and progress towards meeting the initiative’s objective.

Worth noting, Neptune already entered a scientific collaboration with Environmental Defense Fund to test a new approach for measuring oil and gas methane emissions from offshore oil and gas facilities.

EDF will coordinate a team of international researchers that includes Scientific Aviation and Texo DSI to evaluate advanced methods for quantifying facility-level offshore methane emissions, identify key sources, and prioritize mitigation actions.

To contact the author, email bojan.lepic@rigzone.com


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