International Energy Agency reports nearly all the industry’s methane emissions could be avoided at no net cost
Plugging methane from leaky oil and gas facilities would be free of cost almost everywhere in the world, and in many cases would produce a significant profit, at today’s soaring gas prices, the International Energy Agency has found, suggesting that governments have few excuses for not taking action toGovernments have been underreporting their emissions of methane to a dramatic extent, and those emissions are still rising fast, according to thepublished on Wednesday.
Russia is one of the biggest sources of methane emissions from its vast oil and gas operations, but few efforts are made there to control the leaks. According to the IEA, Turkmenistan and Texas are also leading sources of leaks. Last year, leaks from fossil fuel operations amounted to as much gas as Europe burns for power in a year. If that methane had been captured and used, the current gas crisis and soaring prices could have been largely avoided, the IEA said.
Christophe McGlade, lead author of the IEA report, said governments needed to step in to ensure companies used the technology. “One reason companies don’t is a lack of awareness of the problem, or a lack of awareness of how cost-effective abatement is,” he said. In other cases, the company that operates the pipeline or facility may incur the cost of cutting leaks while the benefits accrue to the seller of the gas.
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