Woodside and its Pluto LNG joint venture participants Kansai Electric Power and Tokyo Gas have delivered their first cargo of carbon offset condensate to Trafigura. 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 through a combination of efficiency measures, which reduce emissions, and surrender of high-quality carbon offsets. Trafigura is working with the vessel owner, Norway’s SKS OBO & Tankers, to minimise actual emissions associated with transporting the cargo. Calculation of carbon emissions associated with shipping will be based on data collated by Trafigura, specific to the cargo voyage.
Woodside vice president marketing trading and shipping Mark Abbotsford said this could be the first carbon offset condensate cargo traded globally, demonstrating opportunities for carbon offset condensate.
Woodside and Trafigura have also signed a non-binding memorandum of understanding (MOU) to explore opportunities for carbon management in the marketing of carbon offset condensate, crude oil and liquefied petroleum gas in the future.