Woodside joins UNEP Oil & Gas Methane Partnership 2.0

Australia's Woodside Energy has joined the United Nations Environment Programme (UNEP) Oil & Gas Methane Partnership 2.0 (OGMP 2.0), it said on January 31. 

The OGMP 2.0 programme, a flagship initiative of UNEP, serves as a measurement-based reporting framework that provides public assurance regarding the responsible handling of methane emissions by participating companies.

“Woodside is pleased to extend our leadership in minimising methane emissions by being OGMP 2.0’s first Australian member," Woodside CEO, Meg O’Neill, said. ”As part of our methane strategy, Woodside is striving for near-zero methane emissions on operated assets by 2030."

Woodside said its 2022 methane emissions were around 0.1% of production by volume – below the Oil and Gas Climate Initiative's (OGCI) methane intensity target of below 0.2%. 

The company's methane reduction strategy revolves around four pillars: developing a measured dataset, striving for near-zero methane emissions, transparent reporting, and leadership through advocacy and collaboration. The company has set targets, including a 15% reduction in net equity Scope 1 and Scope 2 emissions by 2025 and a 30% reduction by 2030, with an aspiration for net-zero emissions by 2050 or sooner.