Rosneft Awarded for Major Environmental Project

Rosneft won the annual Kommersant Initiative award in the Ecology nomination, Nezavismaya Gazeta reported.

The company received an award for the implementation of a large-scale project to reduce the level of associated petroleum gas (APG) burning. The comprehensive APG utilization project is one of Rosneft’s most important environmental initiatives over the past 5 years.

The company invested more than 125 billion rubles (over $ 2 billion) in the development of this technology. This will reduce greenhouse gas emissions by 8 million tons by 2022.

In June 2019, Rosneft joined the initiative of leading international oil and gas companies to reduce methane emissions. Therefore, within the framework of the implementation of 17 UN goals in the field of sustainable development, Rosneft systematically improves energy efficiency in all areas of activity, provides access to high-quality and low-cost energy, including in remote regions, and implements measures for the rational use of associated petroleum gas.

According to the current Rosneft 2022 strategy, the company intends to take a leading position in environmental business, as well as enter the first quartile of international companies in specific greenhouse gas emissions.

At the end of 2018, Rosneft reduced greenhouse gas emissions in oil refining by 11% compared to 2017, methane emissions by 46%. In addition, the “green investments” of the Russian company over the past five years have exceeded 240 billion rubles. In the next five years, it is planned to invest another 300 billion rubles.

In 2018, Rosneft completed the construction of several dozens of facilities for the use of associated gas, including facilities for a gas injection system, energy generation, gas treatment and utilization, and gas transmission infrastructure. A program to increase the rational use of associated gas is implemented in all regions where the oil company operates. For new fields, an integrated approach is used, providing for the necessary measures at the stage of preparing design technological documents for the development of fields that provide the required level of rational use of associated gas.