Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Pavilion, Qatar, Chevron create emissions calculating standard for LNG

Published 11/17/2021, 01:34 AM
Updated 11/17/2021, 01:47 AM
© Reuters. FILE PHOTO: The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson

© Reuters. FILE PHOTO: The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson

SINGAPORE (Reuters) - Singapore's Pavilion Energy Trading & Supply Pte Ltd said on Wednesday it has jointly developed with suppliers QatarEnergy and Chevron Corp (NYSE:CVX) a method to calculate greenhouse gas emissions for liquefied natural gas (LNG) cargoes.

The calculation of emissions from wellhead-to-discharge terminal will be applied to sales and purchase agreements that Pavilion Energy has with the producers, the trading company said in a statement.

Pavilion's announcement follows a framework launched by the International Group of Liquefied Natural Gas (OTC:LNGLF) Importers (GIIGNL) on Wednesday to establish rules to declare cargoes carbon neutral.

Environmental groups are sceptical about the use of carbon offsets and say the ability to pay for emission reductions elsewhere could prolong the use of fossil fuels.

© Reuters. FILE PHOTO: The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson

Pavilion, QatarEnergy and Chevron said their methodology is expected to enhance transparency and improve the accuracy of emission calculations.

"The methodology sets a strong tone for increased accountability of emissions along the LNG value chain, paving the way for more decarbonisation strategies towards a lower carbon future," said Alan Heng, Pavilion Energy's interim group chief executive officer.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.