Qatarenergy Promises to Completely Eliminate Methane Footprint by 2030
About one-fourth of the worldwide climate change that has already occurred is caused by methane.
In an endeavor to nearly completely eliminate the methane footprint created during operations by the year 2030, QatarEnergy has joined a coalition of oil and gas firms.
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The largest LNG producer in the world became the first organization outside of the original twelve signatories to join the Aiming for Zero Methane Emissions Initiative.
Saudi Aramco, BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell, and TotalEnergies are among the initiative's 12 signatories. It was founded in March.
While reducing greenhouse gas emissions is normally at the center of climate commitments, attention is quickly shifting to methane footprint since it has a tendency to retain more heat than carbon dioxide in the short run.
The ability of methane to trap heat in the atmosphere is more than 25 times greater than that of carbon dioxide. Methane concentrations in the atmosphere have more than doubled during the past two centuries, primarily as a result of human-related activities.
The ability of methane to trap heat in the atmosphere is more than 25 times greater than that of carbon dioxide. Methane concentrations in the atmosphere have more than doubled during the past two centuries, primarily as a result of human-related activities.
Methane leakage into the atmosphere, in contrast to carbon dioxide, is the result of the loss of a marketable fuel rather than combustion or the burning of fossil fuels.
The success of Qatar's economy and QatarEnergy's operations is largely due to natural gas, which is mainly composed of the gas methane.
Saad Sherida Al Kaabi, CEO of Qatar Energy and Minister of Energy in Qatar, stated in a statement on Monday, "We are reinforcing Qatar's priorities and pledges with regards to the climate change agenda."
Methane is responsible for around one-fourth of the already existing global climate change.
Natural gas, which is primarily made up of the gas methane, is substantially responsible for the prosperity of Qatar's economy and QatarEnergy's operations.
The aims and commitments of Qatar with regard to the climate change agenda are being reinforced, according to Saad Sherida Al Kaabi, CEO of Qatar Energy and Minister of Energy in Qatar, in a statement on Monday.
Late in May, Qatar's energy minister claimed that western nations, including the UK, are suffering as a result of its efforts to "demonize oil and gas corporations" in order to reduce carbon emissions in an effort to address climate change.
Al Kaabi stated in an interview with Sky News that while his nation is eager to assist the UK in addressing its cost-of-living crisis, the western countries must shoulder some of the blame.
He claimed that the current situation was a result of years of advocating for an immediate end to the production of fossil fuels and labeling gas producers as the "evil guys."
Al Kaabi pointed out that the recent rise in oil and energy costs in Europe and other regions is not solely a result of the Russian and Ukrainian crises but can be linked to factors that existed for a number of years prior to the incident.
"Countries began to assemble and began to press firmly for the [energy] transition. They advocated for net-zero, switching to renewable energy sources, getting rid of fossil fuels, and demonizing oil and gas businesses by branding them evil. Besides, as a result, the oil and gas industry isn't receiving enough investment, according to Al Kaabi, as quoted by Sky News.
The sustainability efforts of QatarEnergy
The LNG giant updated its Sustainability Strategy in March, which marked a significant surge in its efforts to combat climate change.
QatarEnergy's mission is to create "clean and inexpensive energy to support the energy transition," which includes implementing a sustainability strategy.
The plan emphasizes climate change and the environment, ethical business practices, and social and economic development.