GTI Energy announced a leap forward in measuring and verifying methane emissions with the release of the updated Veritas Version 2 Protocols. As measurement and detection technologies become increasingly available, Veritas Version 2 offers a simplified framework to evaluate and respond to the mounting volume of data on methane emissions. The updated protocols, rigorously tested by industry stakeholders, provide a more streamlined, refined, and standardized approach to accurately measuring, and thereby reducing, global methane emissions.
The Veritas Version 2 Protocols complement ambitious global commitments to reduce methane emissions, including the Oil and Gas Decarbonization Charter introduced at COP28, where 50 companies representing more than 40% of global oil production pledged to zero-out methane emissions by 2050. The updated protocols also support government, regional, state, and federal regulations for emissions—such as the U.S. Environmental Protection Agency rule to reduce methane emissions from oil and natural gas operations in the U.S.—and empower industry stakeholders to meet these commitments.
“Alongside our partners and collaborators, we are committed to providing stakeholders with transparent and credible tools for creating measurement-informed methane emissions estimates—which are vital to inform actions needed to meet our ambitious climate goals,” said Paula A. Gant, President and CEO, GTI Energy. “By aligning with global methane commitments and government guidelines, the Veritas Version 2 Protocols will help industry meaningfully reduce methane emissions this decade and enable the role of natural gas in low-carbon and low-cost energy systems.”
The Veritas Version 2 Protocols have been consolidated from six to three, with a single “upstream” protocol that combines production and gathering and boosting, a “midstream” protocol that combines processing, transmission and storage, and LNG segments, and a “distribution” segment which remains a standalone protocol. The streamlined approach ensures the technical detail remains consistent with the original protocols and maintains accuracy and reliability of the information.
“We are grateful to our Veritas partners for their feedback on the first version of the protocols,” said Amanda Harmon, Executive Director of Veritas, GTI Energy. “The diversity of perspectives, coupled with our commitment to a transparent process, has resulted in a complex set of tools that can be used widely while complementing existing methane reduction target frameworks and collaborations. Our aim is to empower the industry with real-world technical solutions and consistent data to scale and accelerate methane emission reductions rapidly.”
“ONE Future is proud to have contributed to developing the Veritas 2 protocols, which are among the strongest standards in the world,” ONE Future Executive Director Jim Kibler said. “We are thankful for GTI Energy’s ongoing partnership and all the stakeholders’ work and commitment to drive progress toward a cleaner energy future. Working together across the value chain is vital to adopt transparent, consistent, and enhanced measurement protocols to more efficiently reduce emissions.”
GTI Energy is one of two U.S.-based stakeholders participating in an International Working Group aimed at establishing a universal approach for measuring, monitoring, reporting, and verifying greenhouse gas emissions across the natural gas supply chain to drive global emissions reductions. GTI Energy will contribute observations, best practices, and lessons learned from the Veritas Initiative.
GTI Energy also announced collaborative efforts with the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) to develop a new methodology, expected in February 2024, for participants in both Veritas and OGMP 2.0. This methodology will provide stakeholders with a detailed path for meeting the requirements of OGMP 2.0 using Veritas Protocols. This collaboration marks a major milestone in harmonizing methane emissions measurement and verification standards, fostering greater consistency and comparability of global emissions data.
