American Oil and Gas Reporter - February 2022 - 16

IndustryDigest
necessary steps, including the
development of a new U.S. offshore oil
and gas leasing program, to ensure
continued leasing and energy
production from the U.S. Gulf of
Mexico, for the benefit of all
Americans. "
Meanwhile, Moncla assures, " LOGA
will continue to fight for actual policy
that puts Americans to work while
providing affordable, reliable and
abundant energy to our nation. " ❒
European Commission
Includes Natural Gas On
Sustainability List
BRUSSELS, BELGIUM-In a
contrasting development that came
about a month after its executive branch
adopted several legislative proposals
aimed at cutting natural gas emissions,
the European Union in early February
moved to classify some natural gas
projects as sustainable under its plan to
cut greenhouse gases. The European
Commission describes the relevant
document, the EU Taxonomy
Complementary Climate Delegated Act,
as a guide to help the private sector
meet the EU's climate goals.
" The EU taxonomy is a tool to
increase transparency in financial
markets, so it is a tool for the financial
sector, not energy policy, " characterized
Mairead McGuinness, European
commissioner for financial stability,
financial services and the Capital
Markets Union, in remarks on Feb. 2.
" The taxonomy helps signpost the way
for private investment to contribute to
our climate goals. "
Although McGuinness said Europe
needed to get away from coal
consumption-which she
acknowledged still provided 15% of
European electricity-she also
indicated that the act's effort to move
the union away from energy sources
that emit a high proportion of carbon
dioxide would involve natural gas and
nuclear projects.
" Renewables are already included in
the taxonomy, " she related. " Today we
are setting out how gas and nuclear
could make a contribution in the
difficult transition to climate neutrality.
" When it comes to gas, " she added,
" there are strict conditions, including
limits on emissions, and that facilities
must replace high-emitting plants as
well as being compatible with lowcarbon
fuels. We are setting high
standards and incentivizing change in
these sectors. Alongside these strict
conditions, we are adding rules on
disclosure in the interests of
transparency. Investors will be able to
see whether a potential investment
includes nuclear or gas activities, and
they will remain free to choose if they
want to invest in nuclear or gas-or not. "
According to media reports, the rules
label gas power plants as sustainable
this decade if their CO2 equivalent
emissions do not exceed 270 grams a
kilowatt hour or 550 kg CO2e a kWh
over 20 years. Gas plants must
transition to low-carbon gases by 2035.
The announcement has dismayed
NORTHAMERICA2022
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22 & 23 March 2022 - Houston, Texas
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RON MACLEOD
Chemical Advisor
Chevron
FADI EL AHMADIEH
YAO XIONG
Staff Corrosion Engineer
ConocoPhillips
Team Lead, Corrosion and
Asset Integrity
ExxonMobil
TEDDY VOCKA BATOUMA
Sr Prod Chem Sp & WI Eng
Occidental Petroleum
RAMA (JOE) ALAPATI
Flow Assurance and Production
Chemistry Advisor
Devon Energy
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DEANNA CALLAHAN
Technical Engineering Manager
Tall City Exploration III
Solar Powered Chemical Injection Pumps
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16 THE AMERICAN OIL & GAS REPORTER
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American Oil and Gas Reporter - February 2022

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