GIE and MARCOGAZ have become Supporting Organisations to the Methane Guiding Principles, highlighting their commitment and increased focus on reducing methane emissions across the natural gas value chain.
While GIE and MARCOGAZ do not have a mandate to enjoin their members, as Supporting Organisations they will nevertheless play an important role in encouraging the application of the Guiding Principles. This commitment forms part of wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand whilst contributing significantly to mitigating climate change and improving air quality.
Since natural gas consists mainly of methane, a greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced. The initiative commenced in November 2017, when eight companies signed a set of Guiding Principles on Reducing Methane Emissions across the natural gas value chain. The Guiding Principles were developed collaboratively by a coalition of industry, international institutions, non-governmental organisations and academics. Since then, the Coalition has grown to 30 signatories and supporting orgnaisations, including GIE and MARCOGAZ, all of which are committed to a single clear goal of reducing methane emissions across the natural gas sector.
The Supporting Organisations are the Environmental Defense Fund, International Energy Agency (IEA), International Gas Union, International Association of Oil&Gas Producers, IPIECA , Oil and Gas Climate Initiative, Rocky Mountain Institute, Sustainable Gas Institute, Energy and Resources Institute and United Nations Environment (UNEP).
Francisco de la Flor, GIE Board Member states that: “GIE is fully dedicated to reducing GHG emissions and embraces all initiatives that effectively contribute to this. We proudly join this initiative of methane emissions mitigation by becoming a Supporting Organisation of the Methane Guiding Principles. By this, we enhance our commitment to continuously support all efforts that focus on measuring, documenting and reducing methane emissions as part of the European goal of achieving the Paris Targets.”
The Guiding Principles are:
• Continually reduce methane emissions
• Advance strong performance across gas value chains
• Improve accuracy of methane emissions data
• Advocate sound policy and regulations on methane emissions
• Increase transparency