Oil majors offer $20M for methane tackling tech in climate fix move

Pratima Rangarajan, CEO of OGCI Climate Investments (Photo by: Bartolomej Tomic)

OGCI Climate Investments, an investment vehicle formed by several oil majors  through their joint Oil and Gas Climate Initiative, has this week announced a $20 million grant aiming to fund technologies that will help reduce methane emissions, helping slow down the global warming.

The announcement of the $20 million commitment was made on Wednesday by Pratima Rangarajan, CEO of OGCI Climate Investments, during the IHS CERAWeek energy event in Houston.

More specifically, OGCI is earmarking $20 million to invest in technologies and business ideas that have the potential to significantly reduce methane emissions across the energy value chain and that can be commercialized and deployed at scale.

Pratima Rangarajan said: “Natural gas is an excellent source of power, heat and raw materials for everyday life. Any leaks across production, distribution and use will result in emissions of methane, a key greenhouse gas that causes climate change. We are committed to stopping the leaks and moving toward zero methane emissions. Join us with technologies and solutions”.

OGCI Climate Investments and its venture partners are inviting companies with promising technologies and/or business models in the areas of methane detection, measurement, and mitigation, along the energy value chain, to submit their ideas or funding proposals.

Ten to fifteen companies will be selected to present at the OGCI Venture Day Towards Zero Methane Emissions” would be held on Monday, June 25, 2018 in Washington DC.

Successful applicants will benefit from funding, technical expertise, and potential piloting and deployment opportunities, OGCI said.

Methane emissions reduction is not the only focus area for of OGCI Climate Investments. The OGCI Climate Investments also focus on carbon capture, utilization and storage, energy efficiency, and transport efficiency.

The oil companies that form the OGCI are BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil, Reliance Industries,  Total, and Petrobras.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply