A $1 billion (£0.7bn) fund created by oil and gas giants have pledged to reduce methane emissions.
The Oil and Gas Climate Initiative’s (OGCI) investment arm is committing $20 million (£14m) to invest in technologies and business ideas that have the potential to significantly cut methane emissions.
The OGCI is a voluntary initiative led by CEOs of global oil and gas firms – BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil, Total and Petrobras.
The OGCI Climate Investments is inviting companies with technologies and business models in the areas of methane detection, measurement and mitigation along the energy value chain to submit their proposals.
Between 10 to 15 firms will be selected to present at the OGCI’s first Venture Day ‘Towards Zero Methane Emissions’, which will be held on 25th June 2018 in Washington DC.
