There is growing global momentum and urgency to address avoidable methane emissions from fossil fuel production, considered one of the most cost-effective and impactful climate actions. As the Earth continues to rapidly warm, leaders are increasingly recognizing the need to prioritize solutions that can effectively curb rising temperatures in a shorter timeframe.
Short-term climate impact
Efforts are underway to tackle methane emissions from Turkmenistan’s oil and gas sector and Europe’s coal mines, potentially resulting in a short-term climate impact equivalent to eliminating around 290 million tons of CO2 annually. Discussions between U.S. and Turkmenistan officials aim to address the country’s significant methane emissions, while new EU regulations may lead to reductions in greenhouse gases from coal mines. The Environmental Protection Agency in the U.S. is also expected to outline plans for a methane emissions fee. Although more global emissions reductions are needed, these initiatives signify progress in concrete climate action. Curbing methane emissions offers a relatively accessible path by upgrading infrastructure, which can also yield additional products for operators. The International Energy Agency estimates that around 40% of oil and gas emissions could be reduced at no net cost.
Final negotiations
Ember methane analyst Sabina Assan suggests that European coal mines, while controlling or capturing much of their methane emissions, often fail to properly process or utilize the captured gas. New EU rules could potentially reduce the bloc’s coal mine methane emissions by nearly 40% by 2040, pending final negotiations with member states. Climate activist groups express some disappointment in the rules’ lack of ambition, but they emphasize the importance of addressing emissions from both active and abandoned mines, as methane leaks can persist long after production ceases. Turkmenistan, despite being sparsely populated and receiving less international attention, plays a crucial role in the global climate puzzle due to its significant methane emissions resulting from its vast natural gas reserves. Analysis reveals that many of the most intense global methane releases in recent years have been traced back to Turkmenistan’s oil and gas sector.
Financial assistance
President Serdar Berdymukhamedov of Turkmenistan has approved a roadmap aimed at potentially joining the Global Methane Pledge, an initiative led by the U.S. and EU to reduce global methane emissions by 30% by 2030. Currently, about 7% of Turkmenistan’s gas is wasted through deliberate venting, flaring, and accidental leaks. The U.S. may offer financial assistance, potentially through the Export-Import Bank, with oil service providers like Halliburton Co. and SLB (formerly Schlumberger) aiding in leak detection and equipment replacement. The International Methane Emissions Observatory (IMEO), a UN initiative, commends Turkmenistan’s efforts and expresses support. Meanwhile, the U.S. government is taking action to address methane emissions in the oilfield, including finalizing plans to mandate leak monitoring, well plugging, and curbing flaring. Operators could benefit from capturing and selling newly captured natural gas under these requirements. The expected reductions in methane emissions from the EPA’s proposed mandates were not provided in an annual breakdown.
Methane emissions
The proposed rules by the Environmental Protection Agency (EPA) in the U.S. to address methane emissions in the oilfield are estimated to block around 2.7 million metric tons of methane annually, equivalent to eliminating 225 million metric tons of carbon dioxide per year or cancelling Pakistan’s emissions. The U.S. and EU have prioritized methane reduction and garnered support from 150 nations through the Global Methane Pledge. While meeting the 30% reduction goal by 2030 may be challenging, efforts to tackle methane emissions inspire confidence in decreasing releases in the coming decade, as stated by David Oxley, head of climate economics at Capital Economics.
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Source: Phys.org
