The Strategist

Exxon, Shell to reduce emissions from gas production

11/23/2017 - 05:12

US oil and gas giant Exxon Mobil has joined European partners, including Royal Dutch Shell and Total, in a new initiative to find ways to reduce emissions in its gas operations, Reuters reports.

Minale Tattersfield via flickr
Minale Tattersfield via flickr
British BP, Italian Eni, Exxon, Repsol, Shell, Norwegian Statoil, French Total and Wintershall have committed to further reducing methane emissions in their gas production, the companies said in a joint statement.

Methane, one of the most powerful greenhouse gases emitted into the atmosphere, is released during the extraction, processing and transportation of natural gas.

According to Shell, about 10% of gas converted to liquefied natural gas (LNG) is released into the atmosphere between production and consumption.

The new initiative is the latest step of the world's leading oil and gas companies to reduce carbon dioxide emissions during their operations, which can help achieve goals aimed at reducing global warming.

Last year, a group of ten companies created the "Oil and Gas Initiative" (OGCI), representing more than 20% of world production. The American company Exxon Mobil then did not join this initiative.

In late October, the US authorities fined Exxon Mobil Corporation for $ 2.5 million for harmful emissions at eight different plants and ordered $ 300 million to spend on the installation of cleaning filters and controls.

Regulators accused Exxon Mobil of violating the Clean Air Act, noting that 5 industrial petrochemical plants in Texas and 3 in Louisiana recorded 26 cases of industrial emissions of "volatile organic compounds" and "toxic air pollutants."

As noted in a press release, the US Justice Department and the US Environmental Protection Agency and the Environmental Protection Agency of Louisiana raised charges against Exxon Mobil.

As part of the settlement of the charges, one of the world's largest oil and gas corporations was ordered to spend "about $ 300 million to install controls for harmful atmospheric emissions."