Low and no-vent pneumatic equipment conversions now eligible to earn carbon credits for first time
Cap-Op Energy is pleased to announce that Alberta Environment and Parks (AEP) yesterday approved the first carbon offset protocol that addresses methane emission reductions from pneumatic production equipment. This will play a significant role in achieving Alberta's emission reduction targets from the upstream oil and gas industry.
In conjunction with recent increases to the climate tech fund price levied on large industrial emitters, the new protocol will allow oil and gas producers to implement energy efficiency and emission reduction projects with more attractive payback periods. Companies that take early action will be best positioned to take advantage of this opportunity which can result in hundreds of thousands of tonnes of upstream and midstream oil and gas emission reductions.
The energy industry in Alberta continues to seek lower operating costs while navigating tightening climate policies. Methane is a key strategic focus area for the industry to achieve Alberta’s goal of a 45% reduction in emissions by 2025. By unlocking the carbon value associated with small but numerous pneumatic devices, including instruments and pumps, cost-effective emissions reductions and compliance is now possible.
Cap-Op Energy is the leading technology company delivering integrated solutions to industry by developing emission reduction credits from vent gas capture, pneumatic and engine offset projects with audited algorithms and verified data management systems. Cap-Op’s carbon offset software solutions and services are purpose built to give oil and gas producers the ability to automate and standardize the quantification of GHG reductions, yielding high-quality, low-cost carbon offsets without additional manpower.
About Cap-Op Energy:
CAP-OP ENERGY IS A CANADIAN ENERGY SUSTAINABILITY COMPANY WHOSE MISSION IS TO MAKE SUSTAINABILITY PROFITABLE. CAP-OP HAS LEADING ADVISORS IN CARBON, ENVIRONMENTAL ASSETS, WATER AND ENERGY STRATEGY, WHO INTEGRATE THE TECHNICAL, POLICY, MARKET AND FINANCE MECHANISMS REQUIRED TO DEVELOP SUSTAINABLE SOLUTIONS TO CARBON AND WATER CONSTRAINED ECONOMIES IN THE US AND CANADA.