17 Apr 2019 09:30

Rosneft invests over 240 bln rubles in green energy in five years, to participate in national Environment project

MOSCOW. April 17 (Interfax) - Rosneft's "green" investments have totalled more than 240 billion rubles in the past five years, the Russian state oil major's director of industrial health, safety and environmental management, Valery Markeyev told reporters.

He recalled that Rosneft is implementing a major gas program that, among other things, aims to reduce flaring of associated petroleum gas to less than 5%.

"The company is striving to reach this level by the end of 2021. This challenge is being tackled with a comprehensive approach to field infrastructure construction: the creation of infrastructure for collection, use and shipment of gas to consumers or reinjection of gas into the bed," Markeyev said.

The company also launched a new environmentally friendly business in 2018 that involves building a network of natural gas vehicle fueling stations, he said. Rosneft reached an agreement with Beijing Gas on the development of such a network in Russia. There are plans to build about 170 stations.

"Ten compressed natural gas modules were already built last year at existing filling stations, which will make it possible to reduce harmful emissions," Markeyev said.

Rosneft is devoting particular attention to the problem of greenhouse gas emissions and is considering joining international industry initiatives aimed at reducing such emissions and transitioning to a low-carbon economy.

"Specifically, the company intends to join the initiative of leading international oil and gas companies to reduce methane emissions in the production-sales chain in the gas sector. The possibility of participating in the World Bank's initiative on zero flaring of associated petroleum gas by 2030 and the Oil & Gas Climate Initiative is also being considered," Markeyev said.

"The company is already making a substantial contribution to the reduction of methane emissions today. A case in point is the Krasnodarneftegaz project, where gas collection and processing facilities were built and launched. Methane emissions in 2018 decreased by 63% compared to 2017. The launch of a temporary underground gas storage facility and reinjection compressor station for gas recovery at PJSC VCNG enabled the company to reduce greenhouse gas emissions by 39% in 2018," Markeyev said.

He also said the company is holding negotiations with Russia's Natural Resources and Environment Ministry on participation in the Environment national project. Rosneft has identified areas in which it could potentially take part and have a positive impact on the situation in regions where it has a presence. The company has submitted its proposals to the ministry.

"The latest meeting with representatives of the Natural Resources Ministry was held on April 10. The ministry is expected to soon announce the conditions for participation in federal projects in the area of the environment. The company will then elaborate the proposals, specifying key measures with timeframes and planned expenditures on their implementation," Markeyev said.