Devon Energy has become the latest operator to set a formal target for reducing greenhouse gas emissions across its US portfolio, writes Julia Martinez.

The Oklahoma City-based independent said it is looking to reduce its methane intensity rate by 2025, to about 0.28% or lower.

Last year, the company’s methane intensity rate was about 0.32%, a figure pending review from the Environmental Protection Agency (EPA).

Devon said its calculated emissions include all of which are reported to the EPA and additionally those from basins that fall below the EPA reporting threshold.

It said it is also utilising leak detection and repair (LDAR) at sites where it is not required to do so by state or federal regulations. The Devon decision brings it in line with operators including Anglo-Dutch supermajor Shell, which has highlighted the importance of addressing fugitive methane emissions.

Shell’s vice president for energy transition strategy Jason Klein told a panel at KPMG’s Low-Carbon Energy Summit last week that "if we’re going to defend the role of natural gas, we need to be clean about fugitive methane emissions”. He added: "We need to lead, we need to be aggressive. It is going to be a fundamental rewiring of the global energy system, it’s a huge transformation.”

Shell has said it will attempt to lower its methane intensity rate to 0.2% by 2025 and, as with Devon's newly launched programme, this target will be linked to executive compensation.

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Devon targets cut in methane emissions by 2025