Page 10 - AsiaElec Week 40 2022

AsiaElec CARBON NEUTRAL AsiaElec

Chevron sells first

carbon-neutral LNG

ASIA CHEVRON announced on September 30 it had it is expected to see a significant expansion as
delivered its first cargo of carbon-neutral LNG to increasingly climate-conscious buyers seek to
CPC Taiwan’s terminal in Kaohsiung, in Taiwan, reduce the climate impact of the gas they import.
from the Gorgo liquefaction terminal in north- To date, most carbon-neutral LNG has been
west Australia. traded in Asia.
Greenhouse gas (GHG) emissions associ- Regarding the cargo in question, Chevron
ated with the cargo will be fully offset by retiring calculated its Scope 1 and 2 emissions from
high-quality nature-based and energy efficiency upstream production, transportation, liquefac-
offsets in Cambodia, Indonesia and Nepal, tion and shipping using methodology jointly
Chevron said. developed with Pavilion Energy and QatarEn-
“Chevron’s first full lifecycle emissions offset ergy. Scope 3 emissions were calculated based on
cargo advances our net-zero ambitions and rep- the PACE Global report1 for regasification and
resents a significant milestone in Chevron’s rela- distribution and IPCC 2006 emissions factor2
tionship with CPC Corp, Taiwan,” the president for combustion.
of Chevron Supply and Trading, John Kuehn, Emissions will be fully offset by retiring
said in a statement. “We share the view that the Verra3 certified offsets, namely from the Katin-
future of energy is lower carbon and expect this gan Peatland Restoration and Conservation
offset-paired cargo to be the first of many as we Project in Indonesia, the Southern Cardamom
leverage our capabilities, assets and customer REDD+ Project in Cambodia and the Energy
relations to deliver energy solutions to a grow- Efficient Cooking Solution in Nepal.
ing world.” Among the leading suppliers of carbon-neu-
Carbon-neutral LNG remains something tral LNG so far have been Shell, TotalEnergies,
of a niche, commanding only a miniscule Japan’s Inpex and Tokyo Gas and Malaysia’s
share of overall LNG trading today. However, Petronas.™

P10 www. NEWSBASE .com Week 40 05•October•2022