AsianOil: Santos signs up to emission-cutting initiatives

Australia’s Santos announced last week it had joined two climate change initiatives aimed at curbing methane emissions and eliminating routine flaring.

The company has signed up to the Aiming for Zero Methane Emissions Initiative, becoming the second Australian producer to join after Woodside Energy, which became a signatory in 2022. The initiative was established by the Oil and Gas Climate Initiative (OGCI), comprising some of the world’s largest oil and gas producers, and is a commitment to implement “all reasonable means” to prevent methane venting, flaring and leaks.

Santos has also committed to the World Bank’s goal of ending routine flaring by the end of the decade. It is the 55th company to join the initiative, which was started in 2015. The initiative has been credited with reducing flaring volumes to their lowest level in over a decade in 2022.

“The aims of the initiatives closely align with our three-hub carbon capture and storage, and low-carbon fuels strategy, which is designed to enable Santos to abate the critical fuels we are producing today and supply lower-carbon alternatives as customer demand evolves,” Santos CEO Kevin Gallagher said.

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