Russian gas giant Gazprom said on Monday that it had delivered the first carbon-neutral liquefied natural gas (LNG) in Europe, shipping the fuel to Shell in the UK.
Gazprom delivered the carbon-neutral LNG to Shell at the Dragon terminal in Wales. According to Gazprom, the Russian company and Shell are jointly offsetting the carbon footprint of the shipment via the Verified Carbon Standard and the Climate, Community and Biodiversity carbon credit standards.
This delivery, made with Gazprom's long-term partner Shell, confirms that the natural gas industry helps the world's climate goals, Elena Burmistrova, Deputy Chairman of Gazprom's Management Committee and Director General of Gazprom Export, said in a statement from Shell.
The cargo will enable Shell to supply further carbon-neutral gas to the UK's domestic market, Shell Global LNG, one of the largest LNG traders in the world, said in the statement.
"We are grateful to Gazprom for partnering with us in delivering the first carbon neutral LNG cargo in Europe. We have already delivered seven carbon neutral cargoes in Asia and are very excited to be able to now offer this to customers in the UK," said Steve Hill, Executive Vice President, Shell Energy.
"Through the additional efforts to decrease emissions along with the broad activity aimed at offsetting the impact for environment, natural gas will remain a key element of global energy for decades ahead," said Gazprom's Burmistrova.
Earlier this year, Burmistrova said that Gazprom believes that pipeline natural gas could be compatible with the global climate goals of greenhouse gas reduction and Europe's commitment to net-zero emissions by 2050.
But Europe, the key market for Gazprom's pipeline natural gas, has recently started to see natural gas not as a solution but as a problem in the EU climate goals to become a net-zero emissions bloc by 2050.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. More