Woodside Energy has joined the United Nations Environment Programme (UNEP) Oil & Gas Methane Partnership 2.0 (OGMP 2.0), a leading measurement-based reporting framework which enables improved accuracy and transparency for methane emissions reporting.
A flagship program of UNEP’s International Methane Emissions Observatory’s (IMEO) solution to the methane data problem, OGMP 2.0 is intended to provide the public assurance that methane is being managed responsibly by participating companies in the oil and gas sector.
IMEO collects and reconciles data from multiple sources, including company reporting through OGMP 2.0, satellites, scientific methane measurement studies, and national inventories.
Woodside CEO Meg O’Neill said: “Woodside is pleased to extend our leadership in minimising methane emissions by being OGMP 2.0’s first Australian member.”
As part of its methane strategy, Woodside is striving for near-zero methane emissions on operated assets by 2030.
“We also provide industry leadership and advocacy in support of methane emissions reductions across the entire value chain through our membership of the Methane Guiding Principles (MGP), particularly as the project lead of the Midstream Initiative, which is focused on reducing methane emissions in specific value chains and regions,” said O’Neill.
OGMP 2.0 Programme Manager Giulia Ferrini stated that Woodside’s addition to the partnership as the first member company in Australia is a valuable step towards expanding methane accountability and transparency across the industry and the region.
“As customers, investors and governments demand stronger methane performance, we hope Woodside’s commitment will inspire others to join OGMP 2.0 and adopt a high standard of emissions reporting and management.”
In 2022, Woodside’s methane emissions were calculated to be approximately 0.1 per cent of the company’s production by volume — which was below the Oil and Gas Climate Initiative (OGCI) methane intensity target of below 0.2 per cent.
Woodside’s methane plan comprises four key pillars: developing a high-integrity measured dataset — striving for near-zero methane emissions, transparent reporting, and leadership through advocating and collaborating with others.
Over 120 companies with assets in more than 70 countries on five continents, representing over 38 per cent of the world’s oil and gas production, over 80 per cent of LNG flows, nearly 25 per cent of global natural gas transmission and distribution pipelines and over 10 per cent of global gas storage capacity, have joined OGMP 2.0.
