Switched On Satellites Zero In on Elusive Methane Emissions
Sep 18, 2024
Maria-Olivia Torcea from BNEF’s Oil Team joins to discuss the pressing issue of methane emissions. She highlights satellite technology's revolutionary role in detecting methane leaks from oil and gas operations. The conversation covers the challenges of accurate emission reporting and the contrasting efforts of international and national oil companies. They delve into global initiatives like the Oil and Gas Methane Partnership, the impact of COP28 discussions, and regulatory measures in the EU and US aimed at reducing emissions and enhancing transparency in the industry.
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Methane's Impact
- Methane, a potent greenhouse gas, traps significantly more heat than carbon dioxide over a 20-year period.
- Reducing methane emissions offers a crucial short-term opportunity to mitigate global temperature rise.
Methane Sources
- Agriculture is the largest source of methane emissions, followed by the oil and gas sector.
- Within oil and gas, methane leaks occur throughout the supply chain, but not as much on the end use side because it is combusted.
Leak Contributors
- Equipment issues, operational practices, and economic factors contribute to methane leaks in the oil and gas industry.
- Pneumatic devices, used for pressure and temperature regulation, are a major source of emissions in the US.