Eni joins Global Flaring and Methane Reduction trust fund

Italian oil and gas producer Eni on December 4 announced its membership as a donor to the Global Flaring and Methane Reduction trust fund (GFMR). The GFMR is an initiative launched by the World Bank to support governments and operators in developing countries to eliminate routine flaring and reduce methane emissions from the oil and gas sector to near zero by 2030.

Eni's CEO Claudio Descalzi said that the company is committed to reducing methane emissions and flaring and is working to expand its support for the GFMR beyond financial contributions to include expertise and experience in methane emission reduction.

“This is a very important initiative, which we have supported from the earlier stages,” Descalzi said. “We recognise the priority to move quickly on the abatement of methane emission and flaring, and we are working to expand our support and go beyond the financial contribution, by providing our expertise and experience in methane emission abatement to create operational synergies with the initiatives that will be launched. In countries like Algeria and Egypt, for example, we are supporting excellent projects in this regard.” 

The GFMR is aimed to provide technical assistance, enable policy and regulatory reforms, strengthen institutions, and mobilise financing to support the action of governments and operators.