In a call for urgent action, the International Energy Agency (IEA) has emphasized the need for accelerated reduction of methane emissions within the oil and gas sector to meet climate protection objectives.
During a meeting held in Paris on Wednesday, the IEA disclosed that nearly 120 million tonnes of methane were discharged in 2023 from the production of oil and gas, marking a slight uptick from the previous year. Additionally, approximately 10 million tonnes of methane were emitted from bioenergy sources such as biomass utilization.
Identifying the United States, Russia, and China as the primary contributors to methane pollution, the IEA underscored the necessity of achieving a 75% reduction in methane emissions by 2030 to curb global warming, as stated by IEA Director Fatih Birol.
Birol stressed the crucial translation of commitments made by nearly 200 nations at the UN Climate Change Conference held in Dubai last December into tangible actions, which alone could halve methane emissions by 2030.
Methane, accounting for nearly one-third of the global temperature rise since the Industrial Revolution, is predominantly emitted by the energy sector, making it the largest human-induced source of emissions, as per the IEA report. Despite its shorter lifespan in the atmosphere compared to carbon dioxide, methane possesses significantly greater greenhouse gas potency during its brief existence.
The agency highlighted the significance of reducing methane emissions as one of the most effective strategies to mitigate global warming and enhance air quality in the short term.
According to the IEA’s analysis, approximately 40% of methane emissions from fossil fuel extraction in 2023 could have been prevented without incurring additional expenses. The economic value of capturing methane outweighs the costs associated with emission reduction measures.
Methane emissions within the energy industry arise from leaking pipelines or during extraction processes as a by-product, often flared off, though not all methane undergoes conversion into carbon dioxide.
