Blitz Bureau
NEW DELHI: Upstream oil major Cairn Oil & Gas has become the first oil producer in India to commit to effective reduction of methane emissions as part of its efforts towards becoming net zero carbon by 2030, reported a prominent business daily. .
Part of the Vedanta Group, Cairn has signed a Memorandum of Understanding with the United Nations Environment Programme’s flagship methane reporting and mitigation initiative– the Oil & Gas Methane Partnership (OGMP) 2.0, the company said.
OGMP 2.0 has established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively. Under the MoU, Cairn will establish a five-year methane reduction target and transparently report its progress to OGMP. This will enable Cairn to analyse its emission profiles and utilise the data to mitigate emissions cost-effectively.
The partnership covers over 40 per cent of global oil and gas production. “We are thrilled to welcome our first member from India and hope that Cairn’s commitment will inspire other companies from the country to join OGMP 2.0 and contribute to improving methane emissions reporting and management practices in the oil and gas sector,” Giulia Ferrini, OGMP 2.0 Programme Manager, was quoted as saying in the Business Standard report.
Cairn’s membership doubles OGMP 2.0 coverage to about one-fourth of India’s domestic oil and gas production.
