Gazprom saves 22.5 million tons of fuel equivalent on fuel and energy between 2011 and 2018

The Gazprom Board of Directors reviewed and approved the Company’s efforts to improve the energy efficiency of its operations and reduce its greenhouse gas emissions.

It was stated that every year the Company takes a wide range of measures pursuant to its Energy Saving and Energy Efficiency Concept for 2011–2020 and its relevant medium-term programs.

These measures include upgrading Gazprom’s technological facilities, including the renovation and modernization of compressor stations, streamlining their operating modes, deploying energy efficient equipment in the Company’s plants, and rationalizing lighting, heating and ventilation schemes.

Gazprom’s management assessment system now includes figures indicating the reduction in the specific consumption of fuel and energy resources for own needs, and specific greenhouse emissions. Moreover, the Company is working to adopt and promote energy-saving technologies in its subsidiaries and affiliated companies.

Gazprom’s efforts have been producing tangible results. For example, between 2011 and 2018, Gazprom saved 22.5 million tons of fuel equivalent on fuel and energy, which includes 19.1 million cubic meters of natural gas (this is roughly equal to the annual gas consumption of the Moscow Region), and 2.2 billion kWh of electric power. Gazprom’s specific gas and power consumption for own needs has dropped by 17.4 per cent since 2011. Its specific greenhouse emissions have fallen by 20 per cent since 2014.

The global expert community highly appreciates the Company’s efforts in this regard. According to the international climatic rating Carbon Disclosure Project, Gazprom ranks first (lowest) in terms of its carbon footprint (specific greenhouse gas emissions of its entire production chain) among 26 largest oil and gas companies in the world. Gazprom has also been on the top of CDP’s rating of Russian energy companies for eight years.

Gazprom has developed an energy efficiency and energy saving program for the period from 2019 to 2021. It provides for 2,800 actions to be taken within this period, during which the Company expects to save at least 7.43 million tons of fuel equivalent.

The Management Committee was instructed to continue its work improving the Company’s energy efficiency and reducing its greenhouse gas emissions.

Background

In March 2018, along with other major foreign energy companies, Gazprom signed the Guiding Principles on Reducing Methane Emissions across the Natural Gas Value Chain. The Company committed to further reduce methane emissions at its industrial facilities and encourage other gas market participants to share this practice at all stages of the value chain, from upstream companies to final consumers.

In October 2018, Gazprom approved the corporate Energy Efficiency and Energy Saving Policy. The document builds on Gazprom’s existing Energy Saving and Energy Efficiency Concept for 2011–2020 and reflects the Company’s obligations in this area.

The Carbon Disclosure Project (CDP) includes over 700 international financial institutions. CDP holds the world’s largest database on corporations’ greenhouse gas emissions and climate change risks, which is used for investment decision-making process.