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Approval of the greenhouse gas emissions reporting procedure for oil and gas extraction companies by the Ministry of Energy
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Approval of the greenhouse gas emissions reporting procedure for oil and gas extraction companies by the Ministry of Energy

The procedure for greenhouse gas emissions reporting for oil and gas extraction companies has been approved by the Scientific and Technical Council of the Ministry of Energy of Ukraine.

This document is the first regulatory act in Ukraine to introduce modern approaches based on the guiding principles of CORINER/EMEP by the International Panel on Climate Change (IPCC).

The approved procedure establishes several key aspects:

  • Creating a unified approach for accounting baseline greenhouse gas emissions. This will enable the attraction of “green climate” financing and actively engage investors and donors interested in implementing projects to reduce anthropogenic greenhouse gas emissions, particularly methane.
     

  • Implementing a standardized corporate approach to calculating and reducing the carbon footprint.
     

The “Greenhouse Gas Emissions Reporting Procedure for Oil and Gas Extraction Companies” was developed by the State Enterprise "State Fuel Company MASMA" in collaboration with specialists from the Budget Institution “National Center for Greenhouse Gas Emissions Accounting” in accordance with the Cabinet of Ministers of Ukraine’s order No. 607-p dated July 7, 2023. This document is the result of Task 1 of Measure 7, “Development and approval of the National Guideline for greenhouse gas emissions accounting in the oil and gas industry of Ukraine, taking into account best international practices and European Union regulations.”

Additionally, under agreement with PJSC “Ukrgazvydobuvannya” No. НДІ-85/32П-23 dated July 10, 2023, the Scientific and Technical Council of the Ministry of Energy has tasked the Directorate of the Oil and Gas Complex and Oil, Natural Gas, and Oil Products Market Development to work with SE "DPC MASMA" to develop the “National Guideline for Greenhouse Gas Emissions Accounting in the Oil and Gas Industry of Ukraine,” in line with the Cabinet of Ministers of Ukraine’s order No. 607-p dated July 7, 2023.


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