Neptune holds onto UN methane-cutting gold standard

Europe-focused natural gas producer Neptune Energy has once again been awarded Gold Standard status under the Oil & Gas Methane Partnership (OGMP) initiative for its plans for reduce methane emissions from its operations, the company said on November 1.

OGMP, led by the UN Environment Programme and involving many of the world's leading oil and gas companies, awards companies Gold Standard status if they have a clear and credible plan to reduce methane emissions by 45% or more and report their progress annually. Neptune is targeting net-zero methane emissions by the end of this decade. 

The company first secured the gold standard in November last year.

"We already have one of the lowest methane intensities in the oil and gas sector at 0.02%, compared with the industry average of 0.20%, and we’re on track to achieve our target of net zero methane emissions by 2030," Neptune's director for global HSEQ, Simon Taylor, said.

“The gold award recognises the clear plans we’ve put in place to cut methane emissions from our operations and our commitment to transparent reporting. That includes employing the latest technologies to detect and reduce methane emissions, eliminating routine flaring and upgrading equipment at our sites," he continued.

Neptune also secured a gold rating for environmental social and governance performance earlier this year from EcoVadis, and it has also joined the Aiming for Zero Methane Emissions Initiative of the Oil and Gas Climate Initiative (OGCI).