REN awarded for the 4th year in a row for reducing methane emissions

REN - Redes Energéticas Nacionais, through REN Gasodutos, REN Armazenagem and REN Atlântico, was honoured with the ‘Gold Standard Reporting’, the highest award given by the Oil and Gas Methane Partnership (OGMP 2.0) to companies for their commitment and action in reducing methane emissions.

OGMP 2.0 is spearheaded by the United Nations Environment Programme (UNEP), in partnership with the European Commission, the UK Government, the Environmental Defence Fund and the main oil and gas companies.

This is the fourth year in a row that REN has been awarded the top prize, noticing that in 2024 OGMP 2.0 only rewarded companies that reported their emissions at the highest level of data quality, presenting programmes of excellence for quantifying and reducing methane emissions. The initiative involves 140 companies from all over the world and only 11 per cent of which have achieved this feat.

OGMP 2.0 aims to reduce methane emissions and supports the creation of a monitoring, reporting and verification system to more accurately detect and quantify emissions by operators in the sector. The annual reports of this initiative, considered the most demanding internationally, require companies to report their emissions from all asset sources along the value chain.

When presenting its 2024-2027 Strategic Plan, REN set itself the goal of reducing scope 1 and 2 emissions by 60 per cent by 2030 (compared to 2019), reducing methane emissions by 30 per cent by 2030 (compared to 2023), and achieving carbon neutrality by 2040, ten years earlier than set by the European Union. The company will continue to promote, support and develop actions and projects in line with the objectives identified as priorities and aligned with REN's sustainability strategy.

REN Atlântico is the company responsible for the Sines Liquefied Natural Gas (LNG) Terminal, and REN Gasodutos is the entity responsible for operating the National Gas Transport Network. The underground gas storage activity, carried out under a public service concession, is assigned to REN Armazenagem.