The oil and gas industry walks a fine line between providing the energy supplies demanded by a growing global population and addressing the challenge of reducing greenhouse gas emissions, mainly methane. While the industry has made gains in many areas, critics have flagged concerns that the current pace of emissions mitigation needs to be faster and called for acceleration of the process.
According to the International Energy Agency (IEA), methane is responsible for approximately 30% of the rise in global temperatures since the Industrial Revolution, making it the second-largest contributor to climate change behind carbon dioxide. Methane is released during oil and gas production processes, and the industry accounts for about a quarter of the global anthropogenic methane emitted into the atmosphere.
With increasing recognition of their negative environmental impacts, these emissions are now under greater scrutiny by governments worldwide as they strive toward cleaner power generation sources. As a result, energy companies continue to find ways to effectively manage and reduce their methane emissions to remain compliant with new regulations.
According to nonprofit organizations Clean Air Task Force and Ceres, industry efforts are delivering results.
