TAP Joins Initiative To Reduce Methane Emissions| MENAFN.COM

Wednesday, 22 March 2023 04:57 GMT

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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