Methodology Announced for Veritas and OGMP 2.0 Methane Emissions Reduction

GTI Energy today announced a methodology for participants in GTI Energy’s Veritas to align with the United Nations Environment Programme’s (UNEP) Oil and Gas Methane Partnership 2.0 (OGMP 2.0). This methodology will streamline the process for companies to meet the rigorous methane emissions reporting requirements of OGMP 2.0 by leveraging the robust measurement and verification protocols of Veritas Version 2.

As companies and countries increasingly make methane emission reduction pledges, the need for swift action has become paramount. According to the International Energy Agency (IEA), rapid cuts in methane emissions from fossil fuels through targeted abatement are essential to achieve global climate targets. Notably, more than 75% of methane emissions from oil and gas operations can be mitigated using existing, often cost-effective technologies.

“The development of this methodology represents a significant step forward in streamlining methane emissions reduction efforts within the oil and gas industry,” said Erin Blanton, Vice President of Zero Emissions Systems at GTI Energy. “By combining the technical rigor of Veritas protocols with the global reach of OGMP 2.0, we are equipping companies with a powerful tool to accurately measure, report, and ultimately reduce their methane emissions. This collaboration has the potential to make a substantial impact on our collective climate goals.”

This methodology represents a significant opportunity for companies participating in both Veritas and OGMP 2.0. By leveraging the combined strengths of these programs, they gain access to a streamlined path toward achieving the methane emission reporting requirements from OGMP 2.0.

“Amid a burgeoning methane data revolution and surging demand to cut emissions, the global oil and gas industry has woken up to the need – and the benefit – of leveraging empirical data to improve its methane performance,” said Giulia Ferrini, Programme Manager of UNEP’s Oil and Gas Methane Partnership 2.0. “This methodology presents companies with a means to meet OGMP 2.0 requirements and translate methane ambition into concrete act.”

Veritas' robust measurement and verification protocols, recognized by the industry for their accuracy and transparency, seamlessly integrate with OGMP 2.0's comprehensive reporting framework, which aims to enable the oil and gas industry to realize deep methane emissions reductions over the next decade. This collaboration empowers companies to confidently measure, report, and ultimately reduce their methane emissions, contributing meaningfully to collective efforts in tackling climate change.

“Driving alignment and interoperability between OGMP and other leading frameworks like Veritas is a critical strategy for encouraging greater transparency and rigor in emissions reporting and ultimately for reducing emissions,” said Matt Watson, Vice President, Energy Transition, at Environmental Defense Fund.

For an in-depth look at the new methodology and its significance, join representatives from GTI Energy and OGMP 2.0 for a Future Focused webinar at 10 a.m. CT on March 12. Learn more and register here.

For more information about GTI Energy’s Veritas Initiative, visit veritas.gti.energy.