Abstract

Abstract The technological option of capturing CO 2 from large point sources, compressing, transporting, and injecting it for long -term storage holds the potential for playing a key role in reducing greenhouse gas (GHG) emissions while providing affordable energy. The oil and natur al gas industry experience and expertise provide confidence in carbon capture and geological storage (CCS) as an effective GHG emission mitigation option. However, companies need consistent, reliable, and credible methodologies to derive GHG emission and emission reduction estimates. Harmonizing the quantification of GHG emission reductions, by applying common principles and criteria, supports efficient and consistent development of additional project activities. This paper provides an overview of the P etroleum Industry Guidelines for Greenhouse Gas Emission Reduction Projects (referred to as the Project Guidelines), a collaborative effort between the American Petroleum Institute (API) and the International Petroleum Industry Environmental Conservation Association (IPIECA) to develop guidelines for accounting and reporting of GHG emission reduction projects of interest to the oil and natural gas industry. Key concepts from the Project Guidelines for evaluating, quantifying, documenting, and reporting GHG emission reductions are presented with a specific focus on CCS activities. The paper draws from the Project Guidelines in add ressing the selection of appropriate baseline candidates, boundaries for scenario assessment, and compatible monitoring considerations. Case studies are used to demonstrate the application of commonly accepted emission reduction principles for CCS projects. Through the Project Guidelines, API and IPIECA aim to assist the petroleum industry in identifying, assessing, and developi ng CCS projects. By working toward consistent standards for GHG emissions reductions, our industry demonstrates its commitments toward environmental improvements and p romotes the development of real and sustainable actions to reduce GHG emissions.

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