Emissions of methane, a potent greenhouse gas, remain high worldwide despite available solutions

Methane emissions remain a significant driver of climate change worldwide, despite the availability of technology to reduce these emissions, especially in the oil and gas sector. The International Energy Agency (IEA) released its annual Global Methane Tracker report, highlighting the critical need for action on methane due to its potency as a greenhouse gas.

Methane is 80 times more potent than carbon dioxide at trapping heat, although it only lasts in the atmosphere for about a decade. Human activities have contributed to a doubling of methane concentrations in the past two centuries. The report revealed that methane emissions from fossil fuel production have plateaued at around 120 million tonnes annually since 2019, indicating a lack of progress despite global commitments to reduce methane emissions.

The IEA emphasized that swift reductions in methane emissions are crucial for addressing climate change. Even small reductions in methane emissions can have a significant impact on global temperatures. The report suggested that strong action on methane could potentially reduce the rise in global temperatures by 0.1 degrees Celsius by 2050, equivalent to eliminating all carbon emissions from heavy industries worldwide.

While countries have been slow to implement policies to reduce methane emissions, Canada was recognized as a leading jurisdiction in tackling methane emissions. The country has stringent regulations for the oil and gas sector and ambitious targets to reduce methane emissions by 75 percent below 2012 levels by 2030. Canada’s proactive approach to methane reduction not only benefits the environment but also positions the country as an innovator in technology and expertise.

The report highlighted that the energy sector could reduce around 70 percent of methane emissions using existing technologies that have proven successful in various locations worldwide. These technologies focus on identifying and repairing leaks in pipes, valves, tanks, and other equipment at energy facilities. Satellite data, such as GHGSat operated out of Montreal, is increasingly being used to pinpoint methane leaks and hold companies and countries accountable for their emissions.

As countries like the U.S. reconsider methane regulations and major emitters like China, India, and Russia have not signed on to global methane reduction initiatives, the IEA report emphasized the importance of addressing methane leaks not only for climate action but also for energy security. Methane abatement efforts could unlock an additional 100 billion cubic meters of gas annually, contributing to energy security agendas worldwide.

In conclusion, the IEA’s Global Methane Tracker report underscores the urgent need for countries to take decisive action on methane emissions to combat climate change. Canada’s leadership in methane reduction serves as a model for other nations, highlighting the economic and environmental benefits of proactive methane mitigation efforts. By leveraging existing technologies and satellite data, countries can effectively reduce methane emissions, protect the environment, and secure a sustainable energy future.