IEA urges swift reduction of methane emissions in oil, gas sector

The International Energy Agency (IEA) has issued a call to action for the oil and gas industry to reduce methane emissions more quickly to meet climate protection targets.

According to the IEA’s report, released in Paris on Wednesday, oil and gas production emitted approximately 120 million tonnes of methane in 2023, a slight increase from the previous year.

Additionally, approximately 10 million tonnes of methane were released from bioenergy sources such as biomass.

The IEA identified the United States, Russia, and China as the primary sources of methane pollution.

IEA Director Fatih Birol emphasised the importance of reducing methane emissions by 75% by 2030 to effectively combat global warming.

Birol emphasised the importance of translating commitments made at the UN Climate Change Conference in Dubai into concrete actions.

Implementing these commitments has the potential to cut methane emissions in half by 2030.

Methane, despite having a shorter atmospheric lifespan than carbon dioxide, is a powerful greenhouse gas. It is responsible for nearly one-third of the rise in global temperatures since the Industrial Revolution.

The energy sector is the largest source of human-caused methane emissions.

According to the IEA report, reducing methane emissions is one of the most effective ways to limit global warming and improve 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 avoided at no additional cost.

The value of the captured methane outweighed the cost of abatement.

Methane emissions from the energy industry are primarily caused by leaking pipelines and extraction processes.

While some methane is flared off, not all of it is converted into carbon dioxide, which raises environmental concerns.