Eni publishes its first methane report
Italy’s Eni announced on September 24 the release of its inaugural "Methane Report 2024", highlighting the company's dedication to transparency and the reduction of global methane emissions.
The report acknowledges the vital role that reducing methane emissions in the oil and gas sector plays in combating climate change. It outlines Eni's efforts to minimise methane emissions across its operations and details how the company shares its expertise with others in the sector.
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Eni asserts that natural gas will play a role in the energy transition towards 2050 due to its affordability, reliability, versatility, and lower carbon content compared to other fossil fuels. However, the company emphasised the need for global action to eliminate methane leakage across the natural gas value chain.
In 2023, Eni made notable progress. Over the past six years, the company more than halved its direct methane emissions, reducing upstream methane intensity to 0.06%, which places Eni among the leaders in the industry. Since 2014, Eni has achieved a 95% reduction in fugitive methane emissions and an 86% reduction in methane intensity across its upstream operations. From 2022 to 2023, methane emissions in Eni’s upstream business fell by 20%. The company also attained the OGMP 2.0 Gold Standard Pathway for the 2022 reporting year. Eni has agreements in place with several National Oil Companies to share and apply its methane reduction strategies and best practices. The company aims to achieve near-zero methane emissions by 2030.
Eni is a founding member of the UNEP Oil & Gas Methane Partnership (OGMP), the Oil and Gas Climate Initiative (OGCI), and Methane Guiding Principles (MGP). It collaborates with various international organisations, institutions, non-profit organisations, academia, and industry associations, including IPIECA and IOGP. These partnerships have helped to better define the scale of the methane emissions challenge, develop best practices for monitoring, reporting, and verification, and promote new technologies for emissions monitoring and abatement. One such initiative is the OGCI’s Climate Investment, which seeks to advance technologies across the sector.
Eni is also a signatory of the Oil & Gas Decarbonization Charter (OGDC), a major initiative launched at COP28 aimed at aligning the sector with transparent and concrete actions to reduce emissions, including methane and flaring.
Additionally, Eni has signed collaboration agreements with National Oil Companies, including EGAS, Sonatrach, and SOCAR, to share its leading expertise in methane management and help achieve methane reductions across the industry.