Beach Energy : Emissions to be cut by 25 per cent by FY25

Beach Energy Limited (ABN 20 007 617 969) | Level 8, 80 Flinders Street Adelaide, South Australia 5000

GPO Box 175, Adelaide, South Australia 5001 | beachenergy.com.au

Media release

Beach targets emissions reduction of 25 per cent by FY25

Date 17 August 2020

Beach Energy has today announced a new five-year target to reduce emissions from its operations by 25 per cent relative to FY18 benchmarked levels (when Beach acquired Lattice Energy).

Beach, which has oil and gas operations in Australia and New Zealand, announced the new '25 by 25' target stating it will run the ruler over all activities to reduce its emissions.

Beach Energy Managing Director Matt Kay said that natural gas continues to be a key partner to renewable energy in a low carbon future.

"We know that natural gas plays a critical role as a back-up fuel source to renewables and this will continue well into the future," Mr Kay said.

"Comparatively though, our industry remains emissions intensive and if we are serious about addressing climate change and decarbonising our environment, then we must look at all possible ways to reduce emissions from our activities".

Mr Kay said that Beach would be investigating a range of initiatives this year to help it reach the target, but strategies may include deploying technologies to reduce the use of flaring, augmenting certain activities at Beach facilities with renewable energy, and supporting its JV partner Santos in its carbon capture and storage project in the Cooper Basin.

"We will keep an open mind to ways in which we can reach this target, with all options to be thoroughly reviewed in the coming months," Mr Kay said.

"We can do better by being more efficient with how we go about things, and our teams have done a great job in reducing emissions to date, and now we will double-down on these efforts.

"Ultimately, Beach remains an oil and gas company and we are proud of that - but our purpose is to provide energy to communities in a way that is sustainable - and our new 25 by 25 target is an important step in this direction."

For further information contact the following on [phone]

Media	Chris Burford, Corporate Affairs Manager

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