Methane emissions
Our approach
In 2023, recognising the importance of methane in contributing to global climate change, we set out to include methane intensity and reduction as one of our core metrics for measuring progression towards our Net Zero targets. We set a target of maintaining a methane intensity across our operated assets of less than 0.2%, in line with the NSTA recommendations.
During 2024, Ithaca Energy signed the United Nations Environment Programme Oil and Gas Methane Partnership 2.0 memorandum of understanding. We further developed our methane action plan to align with the OGMP framework, setting out a staged methane mitigation approach, focusing on each source and their materiality, and set our baseline year for reporting.
Case study: Cygnus
Cygnus achieved OGMP gold standard in 2024 by demonstrating commitment to methane quantification and reduction through a number of technical studies and measurement campaigns, involving the work of many teams – both within the Group and with some of our partners.
The results from these surveys have given us a good understanding of where and how methane is being emitted and has confirmed that Cygnus in fact emits low levels compared to the basin average. We will continue to improve on our methane reporting in line with our OGMP commitments and transfer these learnings to our other operated assets as they commence their journey on the OGMP pathway.
Looking ahead
In 2025, learning from the success of Cygnus reaching level 5 OGMP 2.0 status, we will progress with the commitments laid out in our methane action plan and deploy a combination of technology, modelling and reduction solutions to help us progress toward Gold Standard status across all of our operated assets. We are committed to working closely with our non-operated partners, industry, and stakeholder groups to share best practices and encourage industry-wide action on methane emissions reduction.
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