October 1, 2018: Methane Emissions Reduction Gains Global Momentum
An important article ran in the Houston Chronicle last week, commending several well-known energy companies on their recent pledge to reduce methane emissions. Exxon Mobil, Chevron and Occidental Petroleum were mentioned as the most recent to join in the Oil and Gas Climate Initiative (OGCI). OGCI’s pledge is to reduce methane emissions to a methane intensity level of 0.25% by 2025; and with the addition of these new members, OGCI represents a significant portion of the global natural gas production.
ONE Future commends OGCI and its new members for their efforts to reduce methane emissions to a methane intensity level of 0.25% by 2025. Also, we’d like to extend a hearty invitation to these companies to consider joining the ONE Future coalition, and to expand their efforts into the U.S.
Collectively, there are many organizations working to reduce methane emissions worldwide, ONE Future focuses on such reductions within the U.S natural gas value chain, with the underlying premise that voluntary programs can help lead the way in reducing methane emissions. ONE Future’s goal is to reduce these emissions to a methane intensity level of 1% or less by 2025 and is on track to achieve this goal in 2018.
The more industry participation in ONE Future, the greater the emission reductions, and the cleaner the natural gas industry. In short, we believe that the entire value chain has a key stake in reducing methane emissions to maintain the current advantage that natural gas enjoys today and to ensure successful sustainability for the future.