All too often, #methaneemissions are an afterthought in the fight against greenhouse gas emissions... but they took center stage at COP28 UAE #Energy Day. More widely misunderstood than CO2 emissions, they have 28 times their warming capacity and come from multiple sources, notably agriculture, fossil fuel production and use, or decomposing waste. The oil & gas sector alone accounts for 25% of global methane emissions, so I believe it has a duty to assume its responsibilities. Last year, at COP27, this was the main point of my call to action to all Oil & Gas companies, national and international, to join the OGMP 2.0 and work towards zero methane emissions.
A year later, at #COP28, I am deeply satisfied to see that we are now more than 50 National and International Oil Companies, representing 40% of global oil production, that have embarked in the Oil and Gas Decarbonization Charter (OGDC). This is a historical pledge in which these companies aim for near-zero upstream methane emissions and zero routine flaring by 2030 and continue working towards industry-best practices in emission reductions.
As CEO of TotalEnergies, slashing down methane emissions is a personal fight, therefore it was an honor and privilege to participate yesterday in the roundtable on reducing methane emissions.
TotalEnergies‘ expertise and technology has already enabled us to reduce emissions from our assets by 50% in 10 years, then to target a further -50% by 2025 - with the ambition to reach this target a year early, in 2024 and after that, by -80% in 2030, as compared to 2020. The program is clear : stop routine flaring, stop venting, extinct fugitive emissions as soon as they are detected.
Above all, we see our commitment extending beyond our own operated assets: by helping to bring together as many industry players as possible, by putting our methane detection technology at the service of our peers - particularly National Companies - and by having announced earlier a donation of $25 million over 2024-2030 to the Global Flaring and Methane Reduction (GFMR) trust fund, an initiative of the World Bank, to take action and bring significant change for the climate.
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Aiming for zero methane emissions is key in the fight against climate change this decade.
The technical and financial means are there, and the O&G players present today in Dubai for COP28 have the capacity to act together now.
structural welder,erector and fitter at Samsung Engineering Co., Ltd. phase2 badra project, iraq.
3yGreat