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Carbon Capture and Geological Storage (CCS) may play a significant role in mitigating greenhouse gas (GHG) emissions. Oil and natural gas companies are actively pursuing innovative research and new technology initiatives to answer the technical and policy questions surrounding CCS. This paper presents an overview of a recent collaborative effort between the International Petroleum Industry Environmental Conservation Association (IPIECA) and the American Petroleum Institute (API) to develop guidelines for accounting and reporting of GHG emission reductions from CCS projects.1 The focus of the CCS guidelines is on specific technical considerations and the assessment of project emission reductions over the entire CCS chain - capture, transport, injection and storage. The guidelines address potential baseline candidates and scenario assessment, potential emission sources, and monitoring considerations. Case studies for three potential applications are provided to demonstrate the application of emission reduction principles. Key messages include:Growing industry experience with CCS can be used to develop an overall approach to managing geological storage and reducing the risk of unintended physical leakage. Comprehensive examination of possible sites, with appropriate site selection for geological storage, as well as operation and monitoring, are all components of a risk management approach.Good practices in monitoring are especially important for CCS to be a safe and secure GHG emission reduction option.Monitoring should be based on a site-specific risk assessment, with monitoring methods appropriate for the identified risks and to assure the long-term environmental integrity of the storage.Oil industry experience and expertise provide confidence in CCS as an effective emissions mitigation option. Through these guidelines, API and IPIECA aim to assist the petroleum industry in identifying, assessing, and developing CCS projects with the potential for producing credible GHG emission reductions. Introduction and Background Through the development of real and sustainable actions to reduce GHG emissions, the oil and natural gas industry is addressing the challenge of meeting the world's growing energy demands in a responsible manner. The technological option of capturing CO2 from large point sources, compressing, transporting, and injecting it into deep saline aquifers, coal beds, or oil and natural gas reservoirs for long-term storage holds the potential for playing a key role in reducing GHG emissions while providing affordable energy for worldwide social and economic development. This paper introduces a recent industry program to develop guidelines for quantifying GHG emission reductions from project activities of interest to the petroleum industry, and in particular guidelines for CCS projects. Working in collaboration, the International Petroleum Industry Environmental Conservation Association (IPIECA) and American Petroleum Institute (API) drafted the Petroleum Industry Guidelines for Greenhouse Gas Emission Reduction Projects2 (referred to as the Project Guidelines) to promote transparent and credible calculation and reporting of GHG emission reductions from such activities in a comprehensive and consistent manner. This initiative builds on earlier protocol development work contained in the Petroleum Industry Guidelines for Reporting Greenhouse Gas Emissions3 and the API Compendium of Emissions Estimating Methodologies for the Oil and Gas Industry4.

The challenge of balancing energy supplies to meet growing global demands, while concurrently considering associated environmental impacts, is leading to an increased focus on greenhouse gas (GHG) emissions and their potential mitigations. Over the past five years, the American Petroleum Institute (API) and the International Petroleum Industry Environmental Conservation Association (IPIECA) have collaborated on a series of guidelines to promote the credible, consistent, and transparent quantification of GHG emission reductions from projects of interest to the oil and natural gas industry.The Petroleum Industry Guidelines for Greenhouse Gas Emission Reduction Projects (referred to as the Project Guidelines) consists of a series of documents developed to provide oil and natural gas companies with a framework for evaluating, quantifying, documenting, and reporting GHG emission reductions achieved through discreet projects. The Project Guidelines address the selection of appropriate baseline candidates and boundaries for scenario assessment. The documents also address potential emission sources to be incorporated for the selected scenarios, along with compatible monitoring considerations. The guidelines focus on technical considerations and provide flexibility to adapt the approach in accordance with applicable public policy mandates.This paper highlights a recent addition to the series -the Flare Reduction Guidance Document -that addresses GHG emission reductions associated with reduced flaring activities from oil and natural gas operations. Although flaring occurs along the oil and natural gas value chain, the document focuses on exploration and production operations, where the best opportunities for flare reductions reside. Case studies are used to demonstrate the application of the emission reduction principles for two categories of GHG emission reduction projects: (1) recovery of associated gas for processing and sale, and (2) utilizing a small flared gas stream for on-site power generation. Although the concepts for quantifying GHG emission reductions are illustrated through project examples relevant to the oil and natural gas industry, the information is applicable to a variety of project types and establishes the foundation for assessing GHG emission reductions from a myriad of project activities.