Türkiye is set on steering its oil and gas ship toward net-zero shores. To this end, its national oil and gas giant, Türkiye Petrolleri A.O. (TPAO), has become the 56th player to come on board the Oil and Gas Decarbonization Charter (OGDC), which is keen on stepping up the worldwide decarbonization game in the oil and gas industry at speed and scale.
TPAO, as the newest signatory to the Oil and Gas Decarbonization Charter, is said to strengthen OGDC’s growing coalition of companies working together to reduce operational emissions and accelerate progress toward net-zero goals.
Türkiye’s national oil company (NOC) has now joined over 50 signatories with operations across more than 100 countries that agree to pursue net-zero operations by or before 2050; near-zero upstream methane emissions and end routine flaring by 2030; and set and share Scope 1 and 2 emissions targets and track progress transparently.
“Together, we are advancing meaningful climate action across the oil and gas sector—regionally and globally,” underlined OGDC, which reflects the principles that the oil and gas sector believes will contribute to achieving the aims of the Paris Agreement.
Within the first baseline report on the priority areas for cuts in greenhouse gas (GHG) emissions and the progress signatories made in reaching their commitments, the lion’s share of signatories were perceived to be aligned with the charter’s net-zero ambitions.
The gaps that were found in the survey were meant to assist in prioritizing support and knowledge transfer from companies with relevant experience in investing in the energy systems of the future, such as renewables, energy storage, low-carbon fuels, hydrogen, methane abatement technologies, and carbon capture, utilization, and storage (CCUS).
These methods and technologies are also on McKinsey & Company’s list of solutions for bridging the divide between net-zero ambition and reality.
The shipping and maritime industry’s engine manufacturers are also keen on pursuing the development of technologies to gradually get rid of the methane slip from the combustion process.
This is illustrated by the pursuit of engines powered by liquefied natural gas (LNG), as switching maritime engines from oil to LNG is believed to have the potential to curb GHG emissions.
Considering the growing belief that natural gas and LNG are going to play a key role in the energy transition landscape, Türkiye made several strategic moves to shore up power supplies by inking a string of ten-year LNG deals last year with ExxonMobil , Shell, and TotalEnergies .