COP 28: India's top oil and gas producer has substantially cut burning of methane gas produced when oil is extracted from below-surface and would look to bring it down to nil as part of its environmental commitments, he said while speaking at the 28th UN Climate Change Conference in Dubai, called COP28
The state-controlled Oil and Natural Gas Corporation (ONGC) has unveiled plans to revolutionise its energy operations, emphasising a substantial investment of $75 billion in green initiatives by 2030, according to Chairman Arun Kumar Singh. The move is a key component of ONGC's ambitious decarbonization agenda, with a primary focus on replacing natural gas with green electricity for its Arabian Sea installations.
Acknowledging the environmental imperative, Singh highlighted ONGC's successful reduction of gas flaring, a byproduct of oil extraction, with the aim to eliminate it entirely. The company intends to achieve this by replacing the gas used for electricity generation and operational needs with green power transmitted up to 160 km from the west coast. The liberated gas will be redirected for sale to industries, including fertiliser and power plants.
Global commitments to reduce methane emissions by 30 percent from 2020 levels by 2030 have spurred ONGC's dedication to mitigating methane emissions. Methane, a potent greenhouse gas, is notorious for leaking into the atmosphere during oil extraction and processing. Singh emphasised the company's consistent efforts to reduce methane emissions, recognising the importance of controlling this gas to make an immediate impact on global greenhouse gas emissions.
ONGC's geographical and population constraints limit the scope for gas flaring, but the company is working on minimizing unintentional leaks, collaborating with technology providers to address this issue. The ultimate goal, as articulated by Singh, is to achieve zero methane emissions from the company's operations.
Despite a significant reduction in flaring—down almost 80 percent—Singh acknowledged that there is room for improvement. The company plans to mobilise the freed gas for industrial use, contributing to the broader effort to enhance sustainability.
As part of ONGC's broader decarbonization strategy, the company aims to establish 10 gigawatts of solar and wind energy plants, construct a 1 million tonnes per annum green ammonia plant on the west coast, explore pump storage projects at river dams, and set up compressed biogas plants. These endeavours align with ONGC's commitment to invest Rs 2 lakh crore in clean energy projects to achieve its net-zero carbon emissions goal by 2038.
ONGC's proactive measures underline the growing trend among major energy players to transition towards sustainable and green practises, contributing to global efforts to combat climate change.