EI backs methane action coalition
Collective action by global operators to bear down on fugitive methane emissions during oil and gas production has received the fulsome support of the EI.
International institutions including UN Environment have established the Methane Guiding Principles, calling on oil and gas companies to reduce methane emissions and improve accuracy and transparency around methane emission data. Eighteen global operators have already become signatories.
Chief Executive Louise Kingham OBE FEI announced in February that the EI has become a supporting organisation, making clear its determination to use its influence to raise the profile of the issue among its professional members, partners and customers, for the public good.
Writing in a blog post, Louise said: ‘The release of fugitive methane during oil and gas production tends to get too little airtime. As an industry, we have to meet this challenge head-on, not head-in-sand. Indeed, if we don’t up the ante on CH4, there’s a risk that efforts to reduce CO2 emissions elsewhere in the lifecycle could be undermined, and with them natural gas’ licence to operate as a cleaner fossil fuel and bridge to a sustainable energy future.’
Methane is 28-36 times more potent as a greenhouse gas than CO2 over 100 years. Research by the International Energy Agency has suggested it’s technically possible to avoid 75% of current methane emissions in the natural gas supply chain, of which as much as half could be avoided at net negative cost. Despite this, awareness within the industry is low. More than 80% of international oil and gas professionals surveyed by the EI last year were unaware of the extent of the possibilities to tackle the problem.
Read Louise’s blog on this issue at blog.energyinst.org
