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Woodside signs up to zero methane emissions initiative

23rd September 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Energy major Woodside has become the first Australian company to join the Aiming for Zero Methane Emissions Initiative.

By signing the initiative Woodside is committing to striving to reach near-zero methane emissions from its operated assets by 2030.

The Aiming for Zero Methane Emissions Initiative is led by the Oil and Gas Climate Initiative (OGCI), which is a CEO-led initiative that aims to accelerate the industry response to climate change.

Woodside’s 2021 methane emissions were less than 0.1% of its production by volume, which is below the OGCI's aim to reduce the average methane intensity of aggregate upstream oil and gas operations from 0.3% in 2017 to well below 0.2% by 2025

Woodside CEO Meg O’Neill said signing the initiative built on the company’s existing emissions targets.

“Woodside’s historic focus on managing methane emissions means that we are already at less than 0.1% of our production by volume - well below the OGCI’s 2025 methane intensity target of below 0.2%.

“Minimising methane emissions has historically been a priority for Woodside. For example, frontline engineering, operations and maintenance staff are empowered to understand and act on methane emissions to support a sustainable ‘find and fix’ philosophy that can be implemented by site personnel. Looking forward we are further refining methane action plans for our operated assets and trialling quantitative measurement of methane emissions.

“Signing this initiative is an example of our commitment to meeting our own emissions reduction targets, and to encouraging our entire industry to join this effort,” she said.

Chairperson of the OGCI Executive Committee BjørnOtto Sverdrup said that Woodside’s commitment further strengthens the initiative, sending a clear signal that the time for incremental change is past.

“We hope other producers, from Australasia and beyond, will join Woodside in recognising that eliminating methane emissions from the oil and gas industry represents one of the best short-term ways to address climate change,” he said.

The commitment to the initiative is part of Woodside’s plan to deliver on its emissions reduction targets. Woodside has committed to reducing its net equity Scope 1 and 2 greenhouse-gas emissions by 15% by 2025 and 30% by 2030.

In signing the initiative, Woodside joins Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Oxy, Petrobras, Repsol, Shell and Total Energies. Woodside is also a signatory to the Methane Guiding Principles and the World Bank’s Zero Routine Flaring by 2030 Initiative.

Edited by Creamer Media Reporter

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