Key Qld gas player unveils decarbonisation plan

Executive pay will be linked to performance on climate-related targets as part of Senex Energy's new Decarbonisation Action Plan. Reduced flaring and powering new processing facilities with electricity from renewable sources are also part of its strategy to reach a series of targets from 2025. Released today, the plan details the major Surat Basin gas player's ambition to reduce greenhouse gas (GHG) emissions across its operational footprint to net zero by 2040. Related: Senex seals gas deal to power copper mine Managing director and chief executive officer Ian Davies said in a video statement that Senex was committed to supporting the global transition to a cleaner energy future and low-carbon economy. "Natural gas is integral to meeting demand for reliable and affordable energy and we are focused on being the natural gas supplier of choice through the transition." he said. "We plan to expand our valuable natural gas business to deliver 60 PJe per year by year-end FY25 and, at the same time, materially reduce the carbon intensity of our operations and use our knowledge and technology to help our customers to do the same.” Senex has adopted the following targets and ambition to reduce processing GHG emissions within its direct influence: In addition to actions within its gas operations, Senex plans an engagement program to identify and set customer-related Scope 3 GHG emission reduction targets in the next year. Ian Davies, Senex Energy. The plan will also see it allocate at least 5 per cent of annual EBITDA to low-carbon investments and consider investment in credible Australian offsets for hard-to-abate emissions. Related: Green light for $40m Senex gas project “Decarbonising the energy system will require sustained and cooperative action across the entire energy sector," Mr Davies said. “We are proud to be taking these first steps and are committed to reducing our emissions while meeting growing energy demand through increased low-carbon natural gas production. “Our Decarbonisation Action Plan, including our ambition, targets and actions, will be regularly reviewed and we will reset our commitments accordingly. We will also report publicly and transparently on our progress.” Resource sector committed to being part of global solution - QRC Queensland Resources Council chief executive Ian Macfarlane described the Senex plan as another case study of the significant work already underway in the resources sector to deliver a strong future for the sector, for the economy and to reduce greenhouse gas emissions. "It also highlights the important role of gas in moving towards a lower-emissions economy,“ he said. "An orderly transition to a low-emissions economy will require an integrated set of national policies, which are technology-neutral. “QRC supports the Paris Agreement and its emissions reductions goals to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. “Climate change is a critical global challenge, which must be addressed by all parts of society. The resources industry is committed to being part of the global solution." https://www.senexenergy.com.au/multimedia/video-decarbonisation-action-plan/

Key Qld gas player unveils decarbonisation plan

Industry Queensland

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