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Woodside Energy News
WOODSIDE AND JOGMEC TO COLLABORATE ON METHANE EMISSIONS MANAGEMENT
The MOU will see JOGMEC introduce Woodside to Japanese organisations looking to collaborate on technology development related to the detection and quantification of methane emissions.
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Woodside and the Japan Organisation for Metals and Energy Security (JOGMEC) signed a memorandum of understanding (MOU) centred on their joint interest in methane emissions management.
Titled Methane Emissions Technology Reduction and Innovation Collaboration (METRIC), the MOU will see JOGMEC introduce Woodside to Japanese organisations looking to collaborate on technology development related to the detection and quantification of methane emissions.
As a greenhouse gas, methane has made the second-largest contribution to human-induced climate change after carbon dioxide and is believed to have contributed to around 30% of the global temperature rise to date.
Woodside CEO Meg O’Neill said the MOU builds on the company’s focus on minimising methane emissions. “In 2023, our methane emissions were calculated to be around 0.1% of our production by volume, a figure well below the Oil and Gas Climate Initiative (OGCI) methane intensity target of less than 0.2%. Beyond our existing commitments, including as a signatory to the Methane Guiding Principles and to achieving near-zero methane emissions by 2030, there is more we want to do. METRIC reinforces our resolve to achieve our targets, while also supporting other organisations to utilise the technology developed to detect and act on their own methane emissions.”
The announcement complements several existing industry and government initiatives:
- An MOU between JOGMEC and the Western Australian Government which strengthens energy sector cooperation and enables stable supply of natural resources to Japan;
- The aims of the Coalition for LNG Emission Abatement towards Net-zero (CLEAN), a public-private partnership supported by JOGMEC which aims to work with LNG buyers and LNG producers to reduce methane emissions in the LNG value chain;
- The Australian Government’s Future Gas Strategy and its principle of minimising venting and flaring of methane from operations to ensure Australia can meet its emissions targets.
Over the three-year term of the MOU, Woodside will seek to deliver on METRIC’s aims, furthering knowledge on methane emissions management and developing possible options for future digital or technology commercialisation collaborations.
