Naftogaz Joins International Methane Partnership

Ukrainian national gas supplier Naftogaz announced on November 27 it had joined the Oil and Gas Methane Partnership (OGMP) 2.0, a UN programme aimed at making it easier for investors to track companies' methane emissions and reducing them.

Some 62 companies operating on five continents and representing 30% of oil and gas production have already joined the partnership. The OGMP 2.0 provides a methane reporting framework covering emissions across the value chain, from upstream activities to midstream transportation and downstream processing and refining.

OGMP 2.0's goal is to reduce the industry's methane emissions by 45% by 2025 and by 60-75% by 2030.

"Reducing airborne emissions and the greenhouse effect is not just a priority for global leaders; this is the only possible option for the future of the entire world," Naftogaz deputy CEO Sergiy Pereloma said. "Transition to a climate-neutral economy is on the agenda of all Fortune 500 companies, including those operating in the energy sector. Naftogaz is no exception. We are a socially responsible company actively involved in the implementation of sustainable development projects, including renewables."

Naftogaz's commitment was welcomed by the Energy Community Secretariat and the European Bank for Reconstruction and Development.  The latter described the company's decision as a "landmark for the whole EBRD region." The bank will support Naftogaz in reporting to the OGMP.

France's Total also announced it had joined OGMP 2.0 on November 23, saying it was "committed to reducing methane emissions to ensure that natural gas continues to play its key role in the energy transition."