Qatar’s commitment to ensure a sustainable and more prosperous future for the country and the world has been reflected in QP’s new Sustainability Report, which sets in motion a plan to reduce greenhouse gas emissions by 2030.
The new strategy establishes a number of targets in alignment with the goals of the Paris Agreement. It stipulates deploying dedicated Carbon Capture and Storage (CCS) facilities to capture more than 7mn tonnes per annum of CO2 in Qatar.
The strategy also acts as a clear direction towards reducing the emissions intensity of Qatar’s LNG facilities by 25% and of its upstream facilities by at least 15%, and reducing flare intensity across upstream facilities by more than 75%.
Furthermore, it sets out a target to eliminate routine flaring by 2030, and limit fugitive methane emissions along the gas value chain by setting a methane intensity target of 0.2% across all facilities by 2025.
Highlighting its commitment to climate mitigation, QP said it is the main engine for growth and prosperity in Qatar, taking an active role in safeguarding its unique environment and contributing to preserving the planet thereby working alongside all players in the energy sector both in Qatar and internationally, to fast track de-carbonisation of the sector to meet Paris Agreement goals.
“Our strategy embraces the transition towards a low carbon industrial landscape and is intended to be flexible and resilient to change. It is designed to grow the energy supply while helping to meet the dual challenge of achieving low carbon operations,” QP said.
QP aims to create low carbon energy by growing renewable energy capacity through solar projects, by 2-4 gigawatts (GW) by 2030.
Since the launch of its environmental initiatives nearly a decade ago, QP has achieved real momentum across its facilities and those of its affiliates to reduce their carbon footprint.
To ensure a competitive and resilient business model within the energy transformation, and to contribute to the dual societal challenge of providing energy with less emissions, QP’s climate action is tackled under its ‘4C: Consolidate, Curb, Create, Compensate’ framework, referred to as climate roadmap.
It reflects QP’s focus on reducing GHG emissions in its operations (including equity partnerships), improving its products to help its customers lower their emissions, and creating low carbon businesses that support the energy transition.
QP’s climate roadmap sets out new short-, mid- and long-term ambitions to reduce its own GHG emissions and shape its portfolio to be more sustainable.
HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi said, “Qatar Petroleum’s Sustainability Strategy is a bold commitment with clear goals and milestones that ensure we embed sustainability considerations into the way we plan and manage our entire business and operations.
“This strategy is an important step on the road to achieve our vision of becoming one of the best National Oil and Gas Companies in the world, with roots in Qatar and a strong international presence,” said al-Kaabi, also the President and CEO of Qatar Petroleum.
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