Emissions from Oil and Gas Operations in Net Zero Transitions
The production, transport and processing of oil and gas resulted in 5.1 billion tonnes (Gt) CO2-eq in 2022. These “scope 1 and 2” emissions from oil and gas activities are responsible for just under 15% of total energy-related greenhouse gas (GHG) emissions.
The use of the oil and gas results in another 40% of emissions. In this report, we look at the changes and measures needed to reduce the emissions intensity of oil and gas operations in the IEA’s Net Zero Emissions by 2050 (NZE) Scenario. The work brings together, expands and updates analysis from previous IEA work to inform discussions in the run up to COP28 in Dubai. It is part of a broader World Energy Outlook Special Report to be released in 2023 focussing on the role of the oil and gas industry in net zero transitions.
The NZE Scenario maps out a way to limit the global average temperature rise to 1.5°C alongside achieving universal access to modern energy by 2030. This scenario sees a rapid decline in oil and gas demand, which is sufficiently steep that it can be satisfied in aggregate without developing new oil and gas fields. There is also an immediate, concerted effort by all the oil and gas industry to limit emissions from its activities. In the NZE Scenario, the global average emissions intensity of oil and gas supply falls by more than 50% between 2022 and 2030. Combined with the reductions in oil and gas consumption, this results in a 60% reduction in emissions from oil and gas operations to 2030.
