Petronas strengthens methane emissions management

Malaysian state-owned Petronas on November 11 announced its signatory membership to the United Nations Environment Programme (UNEP)’s Oil and Gas Methane Partnership 2.0 (OGMP2.0), as well as the International Renewable Energy Agency’s (IRENA) global Alliance for Industry Decarbonisation at the UN Climate Change Conference COP27 in Sharm El Sheikh, Egypt.

These memberships signify the company’s drive towards decarbonisation and scaling up of cleaner energy solutions aligned with the group’s aspiration to achieve Net Zero Carbon Emissions by 2050 (NZCE 2050) to meet the goals of the Paris Agreement.

Petronas CEO Datuk Tengku Muhammad Taufik said, “By supporting the reporting framework under OGMP 2.0 and the efforts by IRENA to foster effective mitigation strategies for emissions, Petronas will continue to take even more credible actions as we progress towards our target. Petronas remains resolute in its commitment to work with stakeholders and customers in addressing energy transition in a just and responsible manner.”

OGMP 2.0 is UNEP’s methane oil and gas reporting and mitigation programme for the oil and gas industry. It provides a measurement-based, international reporting framework for the sector.

The Alliance for Industry Decarbonisation aims to contribute to the specific net zero goals of countries, foster action for decarbonisation of industrial value chains, and enhance understanding of renewables-based solutions and their adoption by industries.