The United States, together with the energy ministries from Canada, Norway, Qatar, and Saudi Arabia, representing 40 per cent of global oil and gas production, have announced the formation of the Net-Zero Producers Forum (NPF).
The NPF is a cooperative forum that will create pragmatic net-zero strategies, including methane abatement, advancing the circular carbon economy approach, development and deployment of clean energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues, and other measures in line with each country’s national circumstances.
Minister for Natural Resources the Hon. Seamus O’Regan Jr., said the world is increasing climate ambitions and Canada will lead the way despite it being the fourth-largest producer of oil and gas in the world which is the biggest part of the country’s economy.
“We have hundreds of thousands of workers who know how to build energy infrastructure, and they’ll be the ones to lower emissions and build our clean energy future. The government supports these workers, and we’ll be working with the United States and other oil and gas–producing countries in this new Net-Zero Producers Forum to find and share solutions to reach our climate targets.”
The International Energy Forum (IEF) and the Gas Exporting Countries Forum (GECF) both welcomed the initiative. Canada, Norway, Qatar, Saudi Arabia and the United States are all members of the IEF and Qatar and Norway are members of the GECF.
“Energy producers are faced with unique responsibilities to furnish the world with the energy it needs to operate but the climate crisis requires serious leadership and a strong alliance to deliver a path to net-zero,” said Joseph McMonigle, Secretary-General of the IEF.
“The International Energy Forum looks forward to helping advance this important initiative in any way we can,” he said.
The inaugural meeting of the NPF is expected to occur in the latter half of 2021.