04 Mar Saggas commits to reducing its methane emissions
Saggas is one of the 62 companies around the world that has voluntarily joined the OGMP 2.0 project promoted by the United Nations Environment Program (UNEP).
The OGMP 2.0 project aims to reduce methane emissions by 45% by 2025 and between 60% and 75% by 2030.
Saggas assumes a new commitment to reducing its carbon footprint by voluntarily joining the Oil and Gas Methane Partnership 2.0 (OGMP 2.0). This initiative, developed by the Climate & Clean Air Coalition and led by the United Nations Environment Program (UNEP), the European Commission and the Environmental Defense Fund, was presented at the end of November.
Saggas is one of the 62 companies around the world that has joined this project, which aims to reduce methane emissions by 45% by 2025 and between 60 and 75% in 2030. In Spain, Enagás, Repsol, Naturgy, Europe Maghreb Pipeline Limited and Bahía de Bizkaia Gas have also joined the initiative.
Particularly, the OGMP 2.0 initiative will create a new global standard for the measurement of methane emissions, facilitating their monitoring, developing plans to reduce them, and guaranteeing transparency. The project, which is part of the EU strategy to reduce methane emissions, will be applied to the entire value chain of the oil and gas industry, including production, transport and processing.
Likewise, the OGMP 2.0 project will work as a framework for the European Commission to draw up a legislative proposal on the mandatory measurement, notification and verification of all methane emissions from the energy sector.
The actions developed within the scope of this project may produce a short-term decrease in the growth rate of global warming, working as a complement to the efforts made to decarbonize the world’s transportation and energy systems. According to the International Energy Agency (IEA), approximately three-quarters of methane emissions could be reduced with today’s technology. Reducing methane emissions from the energy sector by 90% would reduce the expected increase in the planet’s average temperature by two tenths of a degree for 2050.