Woodside Burrup Pty Ltd and its Pluto LNG joint venture participants Kansai Electric Power Australia Pty Ltd and Tokyo Gas Pluto Pty Ltd, have delivered their first cargo of carbon offset condensate to independent commodity trading company Trafigura Pte Ltd.
The cargo was loaded at Pluto LNG in Western Australia. The carbon dioxide equivalent emissions associated with extraction, storage and shipping of the 650,000 bbl cargo will be offset through a combination of efficiency measures, (which reduce emissions), and surrender of high-quality carbon offsets.Trafigura is working with vessel owners to minimise actual emissions associated with transporting the cargo.
High-quality carbon offsets have been sourced from nature-based projects located in the Asia-Pacific region, independently validated and verified by the Gold Standard or Verified Carbon Standard.
Woodside vice president, marketing, trading & shipping Mark Abbotsford said this could be the first carbon offset condensate cargo traded globally, demonstrating opportunities for carbon offset condensate: “The transaction brought all the participants in the joint venture responsible for producing the condensate together with the customer, a global trading company, in support of our recently announced emissions reduction targets.”
In addition to the transaction, Woodside and Trafigura have signed a non-binding memorandum of understanding (MOU) to explore opportunities for carbon management in the marketing of carbon offset condensate, crude oil and LPG in the future.
For more information visit www.trafigura.com