Energy group OMV has joined the Oil & Gas Methane Partnership (OGMP 2.0) of the United Nations Environment Programme (UNEP). It is the only comprehensive and most credible reporting framework for the oil and gas industry that improves the accuracy and transparency of methane emissions reporting.
Across the entire oil and gas value chain, particularly in exploration and production (E&P) activities, there is a potential release of greenhouse gases such as methane into the atmosphere. Methane is a powerful greenhouse gas – the second biggest contributor to climate change after carbon dioxide.
OMV currently implements measures aimed at optimising and decarbonising its operational processes, increasing energy efficiency, reducing flaring and venting and reducing methane emissions through leak detection and improvement of asset integrity. As part of its sustainability strategy, OMV aims to achieve an Exploration & Production (E&P) methane intensity of 0.1 per cent or lower by 2030.
“OMV takes the topic of managing and mitigating methane emissions very seriously and this program will strengthen our efforts to ensure accurate measurement and transparent reporting. It is also set to meet the growing expectations of the capital market,” said Berislav Gašo, OMV Executive Vice President Energy.
The OGMP, launched originally at the UN Climate Summit in 2014, is a partnership between UNEP, the European Commission (EC), the Environmental Defense Fund (EDF), Clean Air Task Force (CATF), the World Bank, the Climate and Clean Air Coalition (CCAC) and nearly 140 companies with assets in more than 70 countries on five continents, representing over 40 per cent of the world’s oil and gas production.
“We are thrilled to welcome OMV to the Partnership,” said Giulia Ferrini, OGMP 2.0 Programme Manager. “This is a valuable step towards expanding methane accountability and transparency across the industry. As customers, investors and governments demand stronger methane performance, we hope OMV’s commitment will inspire others to join OGMP 2.0 and adopt a high standard of emissions reporting and management.”
