Our path to net zero
Energean was and remains a pioneer. We were the first independent E&P to announce a commitment to reach Net Zero by 2050. We have since continually reduced our emissions intensity – reaching an 86% reduction by the end of 2023.
Energean’s approach is supported by our Climate Change Policy which sets the foundations for our climate-related actions and enables us to clearly articulate our ambitions.
Delivering our strategy
In our pursuit of reducing emissions, we have developed a comprehensive roadmap to attain Net Zero for both our Scope 1 and Scope 2 greenhouse gas emissions. Energean’s climate change strategy has been thoughtfully introduced and is actively unfolding across short, medium, and long-term horizons, encapsulating the following pivotal initiatives:
Short-term plan (2025)
- Focus our production mix from oil to gas.
- Evaluating and implementing performance optimisation projects in all operated sites
- Replace fuel sources with low-carbon alternatives.
- Use low or zero carbon electricity.
- Evaluate opportunities to invest in natural based solutions (NBS) projects.
Medium-term plan (2035)
- Using zero carbon electricity in our sites.
- Operating our subsidiary EnEarth’s first Carbon Storage site in Prinos field and further evaluating replication across our wider portfolio with the aim of transitioning mature assets into CS sites.
- Further evaluating and implementing performance optimisation projects in all our operated assets.
- Investing in nature-based solution projects.
Long-term plan (2050)
- Further expanding CS application.
- Further reducing carbon emissions intensity through nature-based solutions and through generating and acquiring carbon removals from the atmosphere.