In what appears to be a world first, Singaporean multinational commodity trading company Trafigura Group and petrochemical company Braskem last week shipped a cargo of carbon offset naphtha from Corpus Christi, Texas to Braskem’s facility via the Port of Aratu in Bahia, Brazil.
The companies are seeking to reduce or cancel out the carbon dioxide equivalent emissions associated with the extraction, storage, and shipping of the naphtha through a combination of demonstrated emissions reductions and carbon offsets verified by the Verified Carbon Standard.
The pilot represents a further step towards a carbon-neutral circular economy strategy, said Hardi Schuck, Feedstocks, Chemicals and Global Chartering Director at Braskem.
The carbon dioxide equivalent emissions associated with the extraction and pipeline transportation of crude oil, its processing to produce naphtha and waterborne transportation of the 325,000-barrel carbon offset cargo will be calculated on data collected by Trafigura. Emissions will be offset through a combination of efficiency measures that reduce emissions, and through the surrender of high-quality carbon offsets.
“We believe this could be an important additional step in the industry’s efforts to minimise emissions,” said Dmitri Croitor, Global Head of Naphtha and Condensates, Trafigura.
The Group has worked with the vessel owner to minimise actual emissions associated with transporting the cargo including by chartering the most energy-efficient vessel available at the time of fixing and by agreeing with the shipowner that a speed reduction is made. High-quality carbon offsets have been sourced from nature-based projects located in Indonesia that are independently verified by the Verified Carbon Standard.