Methane emissions to be reduced till 2030

Methane emissions could be cut in a decade

Methane emissions from oil and gas infrastructure could be cut in a decade. It is the opinion of industry experts. Methane is a potent greenhouse gas and was one of the topics at the Annual Reuters IMPACT summit in London.

The experts said that technology to detect oil and gas leaks has improved in the last five years. This makes prevention doable.

Reducing methane by 30% by 2030

When these technologies are deployed, they can significantly reduce methane emissions, according to Julien Perez, vice-president of strategy and policy at the Oil and Gas Climate Initiative. The Oil and Gas Climate Initiative is a group of CEOs from a dozen large oil and gas companies.

More than 100 countries pledged last year to reduce methane emissions by 30% by 2030. Over 20 years, methane is about 80% more impactful than carbon dioxide at trapping heat.

According to Perez, the launch of the Global Methane Pledge will generate momentum.

Oil and gas industries produce most methane emissions

World Meteorological Organization assessment for 2021 predicted oil and gas extraction, processing, and distribution currently account for 23% of worldwide methane emissions. Landfills account for about 20% of emissions, with agriculture accounting for roughly one-third.

According to Georges Tijbosch, CEO of MIQ, methane from oil and gas is one part of global greenhouse gas emissions that is solvable in a decade.

Scientists and industry are now detecting methane leaks using sensors attached to aircraft and satellites. Deepak Anand, chief revenue officer at GHGSat, a global emissions monitoring company, said this allows oil and gas companies to help solve the potent haze.

Potential of methane emissions

Methane is a type of fuel, and its capturing and usage are desirable. Researchers try to help the oil and gas industry in finding potential treasures.

GHGSat recently measured the amount of methane leaking from the damaged Nord Stream 2 gas pipeline. They discovered that the value of emissions was equivalent to 630,000 pounds of coal burned every hour.
According to Perez, if we are to keep gas as a transition fuel, we must focus on reducing the footprint of gas in the energy system. The methane above all.