{"id":11560,"date":"2015-11-10T12:38:38","date_gmt":"2015-11-10T18:38:38","guid":{"rendered":"http:\/\/blogs.edf.org\/energyexchange\/?p=11560"},"modified":"2015-11-10T13:03:21","modified_gmt":"2015-11-10T19:03:21","slug":"cutting-oil-and-gas-methane-a-key-pillar-of-global-climate-strategy-says-iea","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2015\/11\/10\/cutting-oil-and-gas-methane-a-key-pillar-of-global-climate-strategy-says-iea\/","title":{"rendered":"Cutting Oil and Gas Methane A Key Pillar of Global Climate Strategy, Says IEA"},"content":{"rendered":"

\"weo\"<\/a>Today, the International Energy Agency (IEA) released its latest World Energy Outlook<\/a>, which projects how global energy systems will evolve between now and 2040 and estimates their relative impact on the climate. This annual report always offers important insight into where some of the world\u2019s top experts see the global energy sector heading. But what\u2019s particularly striking this year is its highlight on oil and gas methane, among other interesting conclusions.<\/p>\n

The report confirms and builds on IEA\u2019s findings from earlier this summer \u2014 that\u00a0global emissions could peak by 2020 without slowing economic growth<\/a>, and\u00a0that reducing methane emissions from the world\u2019s oil and gas industry is one of the fastest, biggest opportunities to make significant climate progress now.<\/p>\n

In particular, the gas chapter includes this important takeaway:<\/p>\n

“The oil and gas sector is the largest industrial source of methane emissions, a potent contributor to climate change. Outside North America, the absence of robust policy action in this area represents a major missed opportunity to tackle near-term warming<\/strong>. The available evidence suggests that a relatively small number of emitters may account for a large share of overall emissions, but tracking and fixing these leaks \u2013 which can be short-lived and intermittent \u2013 requires a systematic effort of measurement, reporting and monitoring, backed up by effective regulation.”<\/p>\n

We couldn\u2019t agree more that the case for policy action and industry leadership is strong. Particularly when there are many proven, low-cost technologies in hand to limit methane emissions from leaking and venting equipment along the global oil and gas supply chain.<\/p>\n

One recent example is the economic analysis<\/a> conducted by ICF to assess the methane reduction opportunity in Canada, the fourth largest global emitter of oil and gas methane, according to a Rhodium Group analysis<\/a>. ICF\u2019s Canada report concluded, in similar fashion to ICF\u2019s U.S. report<\/a>, that it is highly cost-effective to curb 45% of Canadian oil and gas methane emissions over the next five years.<\/p>\n

International attention is growing on the methane issue, and for policymakers and companies looking closely at it, the new IEA report makes five key points:<\/p>\n

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  1. Methane emissions are a global problem<\/strong><\/li>\n<\/ol>\n

    IEA states very clearly that oil and gas methane comes from all over the globe and from all parts of the value chain: \u201cThe oil and gas sector is the largest industrial source of global methane emissions, not just from specific types of gas or oil wells, or from a particular region, but rather throughout the globe and from all parts of the industry.\u201d<\/p>\n

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    1. Despite data uncertainty, global methane emissions are still huge<\/strong><\/li>\n<\/ol>\n

      There is a lack of global data on oil and gas methane emissions, a gap EDF is helping to fill by undertaking a series of 16 studies<\/a> to better understand the scope and scale of the oil and gas methane emissions problem in the United States. EDF is proud that several of these methane science studies were cited in IEA\u2019s annual report but improved reporting and additional science work is needed at the international-level to further inform global methane emissions data and the solutions needed to reduce them. However, even with the uncertainty in the data, according to IEA, the amount of gas lost in 2013 was \u201cequal to the gas production of Algeria in 2013.\u201d<\/p>\n

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      1. Methane is a key climate strategy <\/strong><\/li>\n<\/ol>\n

        Reducing both<\/em> CO2 and methane emissions is imperative to help reduce global emissions and impacts from climate change. In IEA\u2019s annual report, it stresses that \u201csignificant reductions in methane emissions would have the tangible and positive effect of slowing the rate of climate change over the near term, while the effects of parallel efforts to reduce CO2 emissions would be realised over the longer term.\u201d<\/p>\n

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        1. Solutions exist, but will only be deployed if global leaders act <\/strong><\/li>\n<\/ol>\n

          This is perhaps the most important point IEA makes on oil and gas methane. Companies and policy-makers do not need to wait for technological breakthroughs to reduce emissions. The technologies already exist to bring them down; it is a matter of political will to act. IEA goes on to make two other important points:<\/p>\n