New data demands 80% methane reduction from US oil and gas

NewsEnergyInternational News
By Yomna Yasser
US oil and gas
The financial cost of this leakage is estimated to be $1 billion in lost revenue. Moreover, by adding billions of tons of methane into the atmosphere, the oil and gas industry is causing an estimated $10 billion in economic and societal damage each year. (Photo Credit: Earth.com)

New aerial survey data has revealed a stark reality for the US oil and gas industry: methane emissions are far higher than previously reported. The Environmental Defense Fund’s (EDF) comprehensive study found that roughly 1.6 per cent of gross gas production is being released into the atmosphere, a figure significantly exceeding industry-pledged reductions.

To align with climate goals and meet commitments under initiatives like the Oil and Gas Climate Initiative, operators must slash methane emissions by at least 80 per cent. This dramatic reduction is necessary to mitigate the potent greenhouse gas’s impact on global warming.

The findings come as the US Environmental Protection Agency is set to implement stricter regulations on methane emissions. The agency’s Super Emitter Program, equipped with advanced detection technologies, will play a crucial role in identifying and addressing methane leaks.

While the oil and gas industry has pledged to reduce emissions, the new data underscores the scale of the challenge. With growing pressure from regulators, investors, and consumers, companies will need to accelerate their efforts to decarbonise operations and curb methane leakage.

Attribution: Bloomberg

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