Reabold Resources PLC (AIM:RBD) and its partners have published the findings of a Carbon Intensity Study on its West Newton gas development, located in East Yorkshire.
The study, conducted by GaffneyCline, awarded the project an AA rating for Carbon Intensity, indicating the lowest possible carbon intensity for its potential upstream gas and condensate production.
West Newton's Carbon Intensity is significantly lower than the UK average and comparable onshore and offshore analogues, the report found.
It is also considerably lower than the average for imported liquified natural gas (LNG). GaffneyCline estimates that West Newton could produce just 2.87 grams of CO2 per megajoule of energy.
GaffneyCline's study suggests that as development proceeds, there is potential to further reduce Carbon Intensity through measures such as reducing fugitive emissions, flaring, and venting, and utilizing gas-to-grid technologies.
Reabold Resources highlighted that it believes that domestically produced gas is significantly cleaner and supports the drive to net zero greenhouse gas emissions more than imported hydrocarbons.
"Reabold takes its commitment to responsible hydrocarbon production very seriously and we are therefore pleased to publish the excellent results of the West Newton Carbon Intensity study,” co-chief executive Sachin Oza said in a statement.
“The AA rating demonstrates the low carbon credentials of the West Newton project and is an example of the opportunities available in the UK to power the country through lower carbon, homegrown energy, rather than relying on expensive and more carbon-intensive imports."
He added: "We believe West Newton is an important strategic asset to the UK as the country looks to secure domestic energy supply for secure and affordable energy, at a time when the country is exposed to potentially significant gas supply disruptions.
“The study proves that the operator, Rathlin, is a responsible hydrocarbon producer complying with best environmental practice to produce much needed UK hydrocarbons in the most efficient and environmentally friendly way possible."