Climate impact management
Gazprom Neft supports the implementation of the Paris Agreement, which is aimed at combating climate change.
Assessment of greenhouse gas (GHG) emissions is a key tool forming part of the climate risk management system used by the company. For this purpose, Gazprom Neft has adopted a corporate standard on GHG emission monitoring and accounting, which is aligned with the applicable Russian legislation and international recommendations.
An increase in direct and indirect GHG emissions in 2019 was due to the fact that the company is continuously expanding its geographical footprint, prospecting for and assessing hydrocarbon reserves, and developing upstream and transport infrastructure. As a result, the number of facilities that are a source of additional greenhouse gas emissions is increasing.
However, the company is implementing projects to increase associated petroleum gas (APG) utilisation, develop energy-saving technologies and renewable energy projects. These activities help it to avoid a much bigger increase in GHG emissions.
In 2019, the APG utilisation rate across the company assets in Russia reached 89% (up 11 percentage points year on year). Moreover, at mature fields with well-developed gas infrastructure, the gas utilisation rate has ranged between 92% and 99% since 2016.