TAP Joins Initiative To Reduce Methane Emissions
(MENAFN- Trend News Agency) BAKU, Azerbaijan, Feb.3. The Trans Adriatic
Pipeline (TAP) consortium has joined the Oil and gas Methane
Partnership (OGMP 2.0), the flagship oil and gas reporting and
mitigation program of the United Nations Environment Program
(UNEP), trend reports with reference to the consortium.
This voluntary initiative seeks to support Oil & Gas companies
in reducing methane emissions.
OGMP 2.0 is applying stringent criteria that form a global
reference to encourage optimal performance, both in terms of
reporting and emissions reduction through transparency and the
sharing of best practices. This move reinforces the Company's
commitment to carbon neutrality by 2050.
TAP is aimed at obtaining OGMP 2.0's“Gold Standard” status by
2025, which will acknowledge its plans to measure and reduce
methane emissions.
OGMP 2.0 is the only comprehensive, measurement-based reporting
framework for the industry. It improves the accuracy and
transparency of methane emissions reporting.
As the European section of the Southern Gas Corridor, TAP has
the capacity to transport approximately 10 billion cubic meters of
gas per annum (bcm/a) to several markets in Europe. The pipeline is
also designed with the potential to expand its throughput capacity
up to 20 bcm/a.
TAP is strategically and economically important to Europe and
essential in providing reliable access to a new source of natural
gas. TAP plays a significant role in boosting Europe's energy
security, supply diversification, as well as decarbonisation
objectives.
TAP's shareholding is comprised of bp (20 percent), SOCAR (20
percent), Snam (20 percent), Fluxys (19 percent), Enagás (16
percent) and Axpo (5 percent).
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