The overall objective is to manage carbon emissions sustainably.
To better respond to the new challenges resulting from climate change effects, we are taking specific actions including process optimization, boosting energy efficiency and implementing projects that reduce GHG emissions, energy consumption and costs.
In 2017, we implemented various successful initiatives and reduced the overall Greenhouse Gas Emissions (GHG) Intensity by 6.3% compared to 2016, as follows: Upstream decreased by 9.7%, Petrobrazi refinery decreased by 3.1% and Power Plants decreased by 2.7%.
Another important aspect to manage GHG in our industry is related to flaring and venting. OMV Petrom is committed to phase out routine flaring according to the World Bank global initiative “Zero routine flaring by 2030”, endorsed by OMV Group. Regarding vented gas, in Upstream, we reported a reduction of 28% in 2017 compared to 2016.
Direct GHG Emissions
Our total direct GHG emissions decreased by around 9% in 2017 vs. 2016 and accounted for 4 mn t of CO2 eq. Projects implemented in Upstream resulted in overall GHG emission savings of 428,000 t of CO2 eq between 2009 and 2017. The energy efficiency and optimization initiatives in Downstream Oil/Petrobrazi Refinery resulted in savings of over 570,000 t CO2 eq. during the same period.
We are subject to the EU Emissions Trading Scheme (EU ETS). Seven of our operating installations were under EU-ETS at the end of 2017. Around 54% of our direct GHG emissions come from these EU-ETS installations.
Indirect GHG Emissions
Our indirect GHG emissions are those related to the production of the energy we purchase (electricity) for our operations. In 2017, our indirect GHG emissions totaled 56,699 tons CO2 eq. An amount of around 120,000 tons CO2 eq indirect GHG emissions were avoided in 2017 due to energy generated by G2P (Gas-to-Power) and CHP (Combined Heat and Power) units in Upstream.