San Donato Milanese (Milan), September 24, 2024 – Eni marked the IEA-COP29 High-Level Event on Turning Methane Pledges Into Action in New York by releasing its inaugural “Methane Report 2024.” This report emphasizes the company’s dedication to transparency and its proactive measures to decrease methane emissions globally.

The report highlights the critical role of methane emissions reduction within the oil and gas industry in combating climate change. It provides a detailed overview of Eni’s strategies to minimize methane emissions across its operations and its commitment to sharing this expertise with industry partners.

Eni recognizes the role of natural gas in the energy transition towards 2050, citing its affordability, reliability, versatility, and lower carbon footprint compared to other fossil fuels. However, the company stresses the urgency of global action to eliminate methane leaks throughout the natural gas value chain. Driven by a strong internal commitment, Eni has focused on methane emissions reduction for over a decade. This long-term focus and the need for deep understanding of its assets have led to the development of advanced monitoring and mitigation technologies. Eni has implemented these technologies in the field and established a robust reporting system aligned with international best practices.

Key Achievements in 2023:

• Eni Group has achieved a significant reduction, more than halving its direct methane emissions in the last six years (2018-2023).
• With an upstream methane intensity of 0.06%, Eni is positioned as a leader in methane emissions management within the industry.
• The company has achieved a 95% reduction in fugitive methane emissions and an 86% reduction in methane intensity across Upstream operations in 2023 compared to 2014.
• Eni’s Upstream business further reduced methane emissions by 20% from 2022 to 2023.
• Eni has been awarded the OGMP 2.0 Gold Standard Pathway for its 2022 reporting year, recognizing its high standards in methane emissions reporting.
• Agreements are in place with numerous National Oil Companies to disseminate and implement Eni’s methane reduction strategies and best practices, fostering wider industry adoption.
• Eni is committed to achieving near-zero methane emissions by 2030, demonstrating its long-term environmental ambition.

Advanced Technologies for Methane Emission Detection

Eni is at the forefront of utilizing cutting-edge technologies for methane detection, aligning with the evolving international guidelines of the Oil & Gas Methane Partnership 2.0. The company primarily employs technologies that leverage the optical characteristics of methane, specifically its infrared light absorption properties. These technologies assess methane concentration in the air and, combined with local weather data, calculate the emitted flow rate with high accuracy.

To ensure continuous improvement in data quality and reporting accuracy, Eni actively scouts and field-tests innovative technologies to validate their effectiveness. Furthermore, Eni proactively addresses the gap between industry needs and available technologies through internal development initiatives and collaborations with external partners, driving technological advancement in methane detection.

Collaborative Methane Reduction Initiatives

Eni is a founding and active member of key international methane reduction initiatives. These include the UNEP Oil & Gas Methane Partnership (OGMP), the Oil and Gas Climate Initiative (OGCI) (OGCI), and the Methane Guiding Principles (MGP). Through active participation in expert groups with international organizations, non-profit organizations, academic institutions, and industry associations such as IPIECA and IOGP, Eni contributes to defining the scale of methane emissions challenges with increasing precision. These collaborations are crucial for developing best practices in monitoring, reporting, and verification (MRV) of methane emissions and for promoting the deployment of new technologies for emissions monitoring and abatement across the entire oil and gas sector, including through the OGCI Climate Investment fund.

Policy Support and Collaboration with National Oil Companies

Eni is a signatory to the Oil & Gas Decarbonization Charter (OGDC), a significant initiative launched at COP28. The OGDC aims to align the oil and gas sector towards transparent and concrete actions to reduce emissions, with a strong focus on methane and flaring reduction.

Eni has also established collaboration agreements with National Oil Companies (NOCs) such as EGAS, Sonatrach, and SOCAR. These partnerships are designed to share Eni’s industry-leading expertise in methane management, enabling broader methane emissions reduction across the sector and fostering global progress towards climate goals.

Claudio Descalzi, CEO of Eni, commented on the release of the Methane Report 2024:

“The publication of the Methane Report 2024 underscores Eni’s pioneering role in methane management implementation.”

“Our dedicated focus on methane emissions abatement, combined with the strategic application of new technologies, has positioned Eni as a leader in the industry and has significantly reduced our methane emissions over the past decade. We are now committed to sharing our learnings through partnerships within the sector and across the supply chain, contributing to meaningful methane reductions throughout the oil and gas value chain. Looking ahead, our commitment to achieving near-zero methane emissions by 2030 remains steadfast.”