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Climate change

Key role of natural gas

Natural gas, at the heart of the energy transition

Aerial view of an oil platform in the ocean
We support the use of natural gas as the most efficient solution for bringing about a structured transition to a low-emissions future, and especially for its short-term potential to substitute coal in electricity generation. Our Upstream portfolio reflects this position, with one of the highest percentages of gas over oil in the industry. Minimizing methane emissions to the atmosphere is essential as it ensures the advantages of natural gas as a low-carbon source of energy, which is fundamental for the energy transition.

More sustainable energy

Our focus on using natural gas as a fuel is a clear demonstration of our belief that it is the most efficient solution for bringing about a structured transition to a low-emissions future.
This fossil fuel has the lowest environmental impact.
It emits half as much CO2 as coal.
It will play a key role in reducing GHGs, especially in generating electricity.

Our objective: Reduce methane emissions intensity

Natural gas plays a key role in the energy transition, which is why we have taken on the objective of reducing methane intensity by 25% in our operated assets by 2025, compared to 2017. By 2030, we have set out a new concrete target of reaching a methane intensity of 0.2%, a value recognized as close to zero intensity by the O&G industry and which is also consistent with the target announced by the OGCI (Oil and Gas Climate Initiative), of which Repsol is a member. In order to achieve this goal, we focus primarily on three courses of action:

  • Implementing more precise technologies for emissions detection and quantification
  • Identifying and applying technological opportunities for emissions reduction.
  • Transition to a lower-emissions portfolio.
  • Supporting regulations aimed at reducing methane gas emissions

An operator turns a water valve in an industrial facility
  • We are committed to reducing methane emissions at our operations, and we support the role that direct regulation plays in achieving this, along with voluntary efforts like our objective to reduce methane emissions intensity by 25% in our operated exploration and production assets by 2025 and achieve a methane intensity of 0.2% by 2030.
  • Our investments in technological innovation, through our Corporate Venturing fund and OGCI-CI (Oil & Gas Climate Initiative – Climate Investments), will also help to improve our capability to reduce emissions over time. Learn about our investments in this area.
  • Our ambition is to proactively engage with other players in the value chain, including joint venture partners in the gas production and transportation sector, to encourage them to commit to comparable efforts.

EU Methane Strategy

Governments have a pivotal role in developing and implementing policy and regulation that achieve ambitious methane emission reduction outcomes. For that reason, Repsol, together with bp, the Environmental Defense Fund, Eni, Equinor, the Florence School of Regulation, the Rocky Mountain Institute, Shell, Total, and Wintershall Dea, proposed a number of policy recommendations to the European Commission in May 2020 aimed at driving the reduction of methane emissions within the framework of Europe's Green Deal.

Repsol welcomes the opportunity offered by the European Commission with the publication of the EU methane strategy to reduce methane emissions on October 14th, 2020. In our continuous pursuit of transparency, we strongly support the Commission's proposal on monitoring, reporting, and verification (MRV) processes for energy-related methane emissions, building on the methodology established by the Oil & Gas Methane Partnership (OGMP). The establishment of an independent international methane emissions observatory is key for transparency and will enable industry to unify criteria and methodologies.

New measures on mandatory leak detection and repair (LDAR) across the gas value chain and the implementation of new technologies and improved data from satellites will help to speed up the mitigation actions. In order to address real reductions, we acknowledge the need of a performance standard, including from imports. Our OGCI collective ambition of an intensity-based 0.2% for the upstream segment by 2025 can be used as a reference, as suggested in our recommendations to the European Commission.

Joining forces to reduce methane emissions

Climate & Clean Air Coalition logo

Climate & Clean Air Coalition

As part of this initiative, we have launched methane reduction projects in collaboration with other companies, institutions, and governments.
Methane Guiding Principles

Methane Guiding Principles

A group that creates guiding principles for the correct management of methane emissions, including measurement, mitigation, transparent reporting, and more.
Principles for Responsible Investors (PRI) Methane Initiative logo

Principles for Responsible Investors

An initiative that shares best methane emission management practices.

Find out about our memberships in global initiatives