Vitol launches Green LNG product for its LNG customers
Vitol has announced the launch of a Green LNG product for its LNG customers who want to reduce the carbon footprint. The emissions associated with the cargo will be offset by the cancellation of Verified Emission Reductions from wellhead to DES delivery.
All LNG customers will be given the option of using offsets to convert LNG cargoes to Green LNG. The Wood Mackenzie LNG Emissions Tool, which calculates carbon emissions from wellhead to market, will be used to measure the emissions to be offset. The VERs will come from Vitol's current portfolio as well as the wider market.
This demonstrates how our established portfolio of carbon projects can add value to our wider energy customers. We anticipate demand for carbon-mitigating energy solutions to grow as the world focuses on achieving Net Zero,” commented Michael Curran, Head of Emissions Trading, Vitol.
The carbon team at Vitol has been in operation for over a decade. Vitol has a growing portfolio of carbon offsetting ventures around the world, in addition to investing in both compliance and voluntary markets.
Maritime Business World