Neptune Energy awarded ‘gold’ standard for methane reduction plans

Neptune Energy today announced it has been awarded Gold Standard status by the United Nation’s Environmental Programme (UNEP), recognising the company’s detailed plans to reduce methane emissions to near zero by 2030.   The Gold Standard award was provided by the Oil and Gas Methane Partnership 2.0, a voluntary initiative launched by the UNEP, and was featured in the UN’s newly-published International Methane Emissions Observatory (IMEO) report.   The report provides detailed global emissions data which is helping inform action plans to tackle methane levels, and to track progress against commitments made by companies and governments.   Neptune Energy’s Director of Global HSEQ, Simon Taylor, said: “Neptune has one of the lowest methane intensities in the oil and gas sector at 0.02%, in comparison with the industry average of *0.15%, and we’re on track to achieve our target of near zero methane emissions by the end of this decade.   “We have put in place detailed plans to cut emissions from our operations and are committed to transparent reporting. That includes employing the latest technologies and best practices to identify and reduce methane emissions, eliminate routine flaring and upgrade equipment at our sites.”   Neptune is a member of the Aiming for Zero Methane Emissions Initiative, a CEO-led project which aims to eliminate the oil and gas industry’s methane footprint by 2030. Signatories to the initiative aim to reach near zero methane emissions from their operated assets by the end of this decade, avoid methane venting and flaring, and report methane emissions transparently.   *According to latest OGCI performance data – here   -ends-   Notes to editors
A copy of the 2023 IMEO report is available for download here.   For media:
Gavin Roberts
+44 (0) 7704 308138    About Neptune Energy Group
Neptune Energy is an independent global E&P company with operations across Europe, North Africa and Asia Pacific. The business had production of 135,000 net barrels of oil equivalent per day in 2022 and 2P reserves at 31st December 2022 of 552 million barrels of oil equivalent. Neptune aims to store more carbon than is emitted from its operations and the use of its sold products by 2030. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.
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