Politics and technology are pushing oil firms to cut methane

#COP28 Targets #Methane, #OilandGas Sector's Next Steps Key Takeaways:

• Methane, vastly more impactful than CO2 short-term, is under global scrutiny.
• Norway shows significant methane reductions in oil and gas are achievable.
• Advanced monitoring tech reveals major emitters, spurring regulatory actions.

Further Insights

1. Methane Impact: Methane contributes 45% to global temperature rise since the 19th century, with potency 80 times that of CO2 over a decade.

2. Norwegian Model: Norway's stringent emissions regulations and use of offshore wind power have drastically reduced its oil and gas sector's methane emissions.

3. Monitoring Advances: Technological advancements, including satellites and AI, now allow tracking of methane emissions, identifying major 'ultra emitters'.

4. Global Shifts: COP28 focuses on oil and gas for methane reductions. The EU, US, and others advocate for inclusive, actionable commitments across nations.

5. Private Sector Response: Major oil companies cut methane emission intensity by half since 2017, using both high-tech monitoring and simple fixes like valve replacements.

6. Economic Incentives: Unvented methane can be harvested as fuel, suggesting economic benefits alongside environmental progress for reducing emissions.

Closing Thoughts: As the world's leaders converge to tackle methane emissions, the role of technology in enforcement and accountability becomes clear. How might this shift in focus and capability influence future sustainability goals?