Qatar Petroleum (QP) signed a set of Guiding Principles on reducing methane emissions across the natural gas value chain stretching from production to the final consumer.
Saad Sherida Al-Kaabi, Qatar Petroleum President and CEO, signed the Guiding Principles document at a ceremony in Doha attended by Royal Dutch Shell CEO Ben van Beurden. Royal Dutch Shell is also a signatory to the principles.
Al-Kaabi reaffirmed QP’s continued commitment to the reduction of methane emissions and said that this has been part of their wider environmental responsibility enshrined in the company’s corporate values and operational standards.
As the world’s leading liquefied natural gas producer, we have always held on to the highest of environmental standards and practices, including building the Jetty Boil-Off Gas Recovery Project, one of the largest environmental investments in the world and the biggest of its kind.’
He said that by signing the Guiding Principles, QP is sending a strong message.
We take this responsibility seriously and we are pleased to join our international industry peers in adopting the guiding principles to help achieve global climate goals.’
With this signing, QP becomes the first national oil company in the Middle East to join the wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change.
Since natural gas consists mainly of methane, a potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.
Mark Radka, Head of the United Nations Environment Programme’s Energy and Climate Branch, earlier commended the Guiding Principles.
Numerous studies have shown the importance of reducing methane emissions. We are delighted that Qatar Petroleum has joined this effort as they provide an excellent framework for cutting methane emissions across the entire natural gas value chain and reporting on the reductions achieved.’
The Guiding Principles were developed in collaboration with Columbia University, Environmental Defence Fund, International Energy Agency, International Gas Union, Oil and Gas Climate Initiative, Climate Investment Funds, Rocky Mountain Institute, Sustainable Gas Institute, Energy and Resources Institute, University of Texas at Austin, and UN Environment.
The principles aim to continually reduce methane emissions, advance strong performance across gas value chains, improve accuracy of methane emissions data, advocate sound policies and regulations on methane emissions, and increase transparency.
Current signatories to the Guiding Principles include British Petroleum, Eni, ExxonMobil, Gazprom, Repsol, Shell, Statoil, Total and Wintershall.
For more information, visit the QP website at qp.com.qa.