Aker Solutions is now a supporter of the Aiming for Zero Methane Emissions Initiative, a global initiative endorsed by some of the world’s largest oil and gas producers to accelerate efforts to eliminate methane emissions from oil and gas assets by 2030.
Methane accounts for 30 percent of global warming, and the oil and gas industry is responsible for approximately 23 percent of methane emissions from human activity. Reducing methane emissions from the energy sector is one of the best short-term ways of addressing climate change.
The Aiming for Zero Methane Emissions Initiative was developed by the Oil and Gas Climate Initiative (OGCI), a CEO-led initiative that aims to accelerate the industry response to climate change.
Aker Solutions’ chief executive officer Kjetel Digre said the initiative is an example of the need to work together to find solutions.
“The energy sector is one of the largest methane emitters worldwide, and as a supplier we are committed to working with our customers to eliminate methane emissions from their oil and gas assets. Over the past 30 years, we have worked with customers on the Norwegian continental shelf, and the Norwegian legislation on methane emissions are among the strictest in the world. If these standards were implemented globally, we could reduce the global methane emissions from petroleum operations by 90 percent,” said Digre.
Launched in March 2022 following COP26, the Aiming for Zero initiative is quickly gaining support from the energy industry. The goal is an all-in approach that treats methane emissions as seriously as the oil and gas industry already treats safety.
“We warmly welcome Aker Solutions’ support for the Aiming for Zero Methane Emissions Initiative. Daring to aim for zero methane emissions is important. Aker Solutions’ support will be crucial as the energy industry strives to achieve zero methane emissions by 2030,” said Bjørn Otto Sverdrup, chief executive officer of the Oil and Gas Climate Initiative.
Companies joining the Aiming for Zero initiative commit to:
- Do what it takes to reach near zero methane emissions by 2030
- Report transparently
- Adopt better monitoring and measurement technologies
- Support the implementation of sound regulations
- Encourage partners to do the same
Read more about Aker Solutions approach to sustainability at www.akersolutions.com/sustainability
- Methane (CH4) is a greenhouse gas and the second largest contributor to climate change after carbon dioxide (CO2)
- Methane is responsible for around 30% of global warming - Methane from human activity falls into three main sectors:
- Agriculture 40%,
- Fossil fuels 35% - oil ang gas extraction accounts for 23 percent of these
- Waste 20%
- With preexisting technology, 75 percent reduction in methane from the oil and gas sector is possible, 50 percent of this could be done at no net cost