PTTEP announces 2050 net-zero target

Thai state-run PTTEP on March 20 announced the target and plan to achieve net-zero greenhouse gas emissions by 2050.

“New projects with an emphasis on natural gas and greenhouse gas intensity will be factored into the investment decision-making process,” the company said.

PTTEP said it will pursue the development of technology to reduce greenhouse gas emissions from the production process in particular carbon capture and storage and zero routine flare initiative for new projects.

In addition, the company will focus on emissions offsetting through the planting of trees in forests and mangroves to increase the natural carbon sink.