Eni has been awarded “Gold Standard Reporting” of the Oil and Gas Methane Partnership 2.0 (OGMP 2.0) for its commitment to reporting emissions at the highest data quality levels.
OGMP 2.0 is an initiative of the United Nations Environment Program’s International Methane Emissions Observatory, aimed at setting the global standard for methane accountability and transparency in the oil and gas sector as a necessary step to effectively track and target mitigation with measurement-based data.
In 2020, Eni adhered to OGMP 2.0 and committed to setting reduction targets and in 2023 the company’s effort had been recognized under the “Gold Standard Pathway” for significantly improving implementation plans for methane emissions reporting.
While the company sees the pivotal role of natural gas in the energy transition pathway to 2050, it also believes that global action is needed to eliminate methane leakage throughout the natural gas value chain.
Thus, it has set the goal to reach near zero methane emissions by 2030 and it has more than halved methane emissions between 2018 and 2023. Additionally, Eni has reached an upstream methane intensity of 0.06% in 2023.
A key lever of Eni’s methane strategy is cooperation with other sector players and international organizations that commit to controlling methane emissions in the sector’s value chain, it said on Friday.
The company has been a founding member of the UNEP Oil & Gas Methane Partnership (OGMP) in 2014, as well as of the Oil and Gas Climate Initiative (OGCI) and Methane Guiding Principles (MGP).
In 2023 Eni joined the Oil & Gas Decarbonization Charter (OGDC), a milestone initiative to align the sector towards transparent and concrete actions to reduce emissions, including methane and flaring.
The company as well joined the Global Flaring and Methane Reduction trust fund (GFMR), an initiative launched by the World Bank to support governments and operators in developing countries to eliminate routine flaring and reduce methane emissions from the O&G sector to near zero by 2030.
Eni has also signed cooperation agreements with National Oil Companies (NOCs) aimed at sharing its industry-leading experience in methane management to enable methane reduction across the sector.
