Australia’s Woodside, Trafigura trade world’s first carbon offset condensate cargo
Australia’s Woodside Energy and commodity trader Trafigura have traded the world’s first carbon offset condensate cargo, which loaded from Australia’s Pluto LNG terminal in Western Australia, the companies said in a joint statement March 15.
The trade comes after several cargoes of carbon neutral LNG and at least one cargo of carbon neutral crude oil have been traded globally, as consumers look to offset the impact of fossil fuels and suppliers rush to establish carbon trading and offsetting mechanisms to meet future demand.
Woodside Burrup and its Pluto LNG joint venture participants Kansai Electric Power Australia and Tokyo Gas Pluto delivered their first cargo of carbon offset condensate to independent commodity trading company Trafigura, the statement said.
Woodside, Trafigura Trade Carbon Offset Condensate Cargo
Mar 15, 2021 9:45:am
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by: Shardul Sharma
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Woodside, Trafigura Trade Carbon Offset Condensate Cargo
Woodside and its Pluto LNG joint venture partners have delivered their first cargo of carbon offset condensate to Trafigura, Woodside said on March 15. 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-barrel cargo will be offset using efficiency measures, which reduce emissions, and the surrender of high-quality carbon offsets, the company stated. Trafigura is working with the vessel owner to minimise actual emissions associated with transporting the cargo.
Australian producer also signs MoU with Trafigura to explore future opportunities for the marketing of carbon offset condensate, oil and liquefied petroleum gas