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The company has signed an agreement with OGMP (Oil and Gas Methane Partnership),
an initiative of the United Nations Environment Programme (UNEP) in which nearly
140 oil and gas companies work with organisations such as the European Union
(EU) and the World Bank to improve accuracy and transparency of methane
emissions reporting.
Vår Energi is already recognised for its ESG leadership, including being a “Top
Ranked Company” by Sustainalytics and inclusion in the Oslo Stock Exchange (OBX)
ESG index.
Through its membership in OGMP, Vår Energi joins with other major oil and gas
companies in the work to detect and reduce emissions of methane in accordance
with best practices.
EVP Safety & Sustainability in Vår Energi, Ellen Waldeland Hoddell explains:
"We are accelerating our decarbonisation plan to maintain relevance and
investability long term. This includes targeting methane emissions in 2024 to be
“near zero”. For the first quarter of 2024 the methane emission intensity for
Vår Energi was 0.02% of exported gas from operated assets, which is far below
the industry target of 0.2% by 2025.
Nevertheless, further reduction is a key part of the roadmap we use as a guide
in the effort to cut greenhouse gas emissions. Vår Energi is already linked to
the global initiative Oil and Gas Climate Initiative (OGCI), aiming for Zero
Methane Emissions. Now we’re taking yet another important step, joining with the
UNEP, EU and other major oil and gas companies in the work to achieve additional
emission reductions."
OGMP is a recognised global standard for methane measurement, reporting and
setting objectives. Through its membership, Vår Energi secures guidance in both
strategic and operative work to cut methane emissions.
The membership in OGMP will also prepare Vår Energi for methane-related
requirements that are expected to be introduced via the EU’s methane strategy.
Contact
Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no
Media
Andreas Wulff, VP Communications
+47 926 16 759
andreas.wulff@varenergi.no
About Vår Energi
Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by more than 50% within 2030. Vår
Energi has around 1 300 employees and equity stakes in 47 fields. We have our
headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and
Florø. To learn more, please visit varenergi.no
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