Climate change is an important global issue requiring cooperative action by governments, industries and communities around the world. Valeura welcomes the ambition of the 2015 Paris Agreement to strengthen the global response to climate change. Valeura is committed to playing its part by providing energy that supports social and economic development now and for future generations, in the cleanest manner possible. As the world moves towards a low carbon economy, natural gas will play an important role as a transition fuel helping to meet the primary energy demands of society, whilst offsetting more carbon-intensive fuels like coal. Natural gas has the lowest carbon intensity of all non-renewable energy sources with about half the emissions of coal at the point of combustion. Responsible and reliable sources of natural gas should be utilised to fill the void that cannot be met by renewable energy sources during the energy transition to a lower carbon world, and hence Valeura’s vision to develop the Thrace basin tight gas play in Turkey is a logical fit.
At the same time, the world continues to have a need for liquid hydrocarbons, and Valeura is committed to producing and developing its identified liquid hydrocarbon accumulations in accordance with world-class standards for energy consumption and efficiency.
Valeura is committed to reducing the direct impact from our activities in the communities in which we operate. We are focused on minimising any flaring from wells, lowering GHG emissions, and reducing waste in all our operations.
In everything we do, we strive for continuous improvement.
Flaring of natural gas is one of the most significant sources of GHG emissions in oil and gas production with the global average in the industry being 1.4% of the total hydrocarbons produced (IOGP 2015). Through both its historic gas production business and its deep tight gas appraisal play, Valeura has strived to be a leader in flare reduction.
Valeura operates in a manner aimed at minimising its environmental impact, including reducing greenhouse gas emissions, and believes its practices are highly compatible with the priorities of best-in-class international operators.