The Gazprom Board of Directors reviewed the information concerning the measures taken by the Company to improve energy efficiency and reduce greenhouse gas emissions.
It was noted that Gazprom took a systemic approach to enhancing the energy efficiency of its production operations. The technical solutions that allow the Company to cut down on the specific consumption of energy resources are widely employed at the operating facilities and taken into account in the designing of all new units.
In 2011–2016, the Company’s energy conservation and energy efficiency efforts resulted in the savings of 15.2 million tons of fuel equivalent on fuel and energy resources, including 12.8 billion cubic meters of natural gas, 1.5 billion kWh of electricity, and 1.3 million Gcal of heat. The actual amount of resources saved exceeded the planned amount by 3 per cent.
Gazprom achieved those impressive results primarily through using state-of-the-art gas compressor units, optimizing the operating modes of the gas transmission system, and reducing outgassing amounts during reconstruction and repair works at gas transmission facilities.
Currently, the Company implements the energy saving and energy efficiency program for 2017–2019, which aims to save some 6 million tons of fuel equivalent on energy resources.
By applying a comprehensive approach to energy efficiency, Gazprom addresses the essential environmental issue of greenhouse gas emissions. Between 2011 and 2016, the volume of such emissions at Gazprom’s facilities dropped by 24 per cent, from 133.4 million tons to 101.2 million tons as measured in CO2 equivalent.
It was stressed at the meeting that natural gas was the greenest fossil fuel in the world. The CO2 emissions from its combustion are 1.8 times and 1.3 times lower than those from coal and gasoline, respectively. The carbon footprint of facilities producing compressed natural gas used as a vehicle fuel is 4 times smaller than that of gasoline-producing facilities.
Gazprom has been commended by independent experts for its greenhouse gas reduction efforts. The Company has been recognized by the Carbon Disclosure Project investor partnership as the best Russian energy company every year since 2011. Such recognition gives further proof of the efficiency of Gazprom’s corporate policy for reducing climatic impacts.
The Gazprom Board of Directors also reviewed the issue related to the implementation of the capital investment program for 2017–2019 depending on potential energy market scenarios.