The EU has committed to a domestic net greenhouse gas emissions reduction of 55% below 1990 levels by 2030 and is targeting an economy-wide climate neutrality by 2050. To achieve this, methane emissions from the energy sector needs to be reduced by ~58% below 2020 levels by 2030.
The European Union has agreed to a raft of measures aimed at quantifying and ultimately cutting methane emissions from oil & gas and coal mining in Europe. Key highlights include:
- From 2030, fossil fuels imported into Europe must not exceed yet-to-be-determined “maximum methane intensity values,” or else importers may face financial penalties.
- Producers of oil, gas and coal in Europe must “measure, report and verify” methane emissions on a sliding timescale, starting in 18 months from when it is officially adopted.
- Coal mine operators must monitor for fugitive methane escaping from inactive or abandoned mines less than 70 years old and plug leaks.
- Oil and gas producers in Europe will largely be banned from flaring and venting excess methane by 2027. Leaky infrastructure must be repaired or replaced.
Commenting on the requirements, which will likely become law by the end of the year, GHGSat’s Solutions Architect, Stanley Opara, said, “We welcome the timing and scope of this initiative. Methane is an invisible but powerful greenhouse gas with more than 80 times the global warming potential of carbon dioxide on a 20-year timescale.” It is responsible for around 30% of all global warming but, until recently, has been largely overlooked. These new requirements put methane firmly in the spotlight.
Since the launch of our first high-resolution satellite in 2016, GHGSat has worked hard to raise global awareness of this gas – especially its sources, which we can pinpoint from space. We now know that most of the methane in the atmosphere comes from industrial activity – particularly fossil fuel production. This is good news as it means that we can take steps to reduce emissions. Moreover, we have the tools to do this, as stated in a recent report by JPMorgan Chase & Co.
“The International Energy Agency (IEA) estimates that over 75% of methane emissions in the Oil & Gas sector can be reduced with existing technologies. One of the historical reasons that methane emissions have been difficult to address is a lack of reliable, real-world data.”
The new EU measures recognize the need to monitor energy infrastructure on a regular basis and highlights the importance of accurate, transparent emissions reporting. We can only mitigate what we can measure and can only fix what we can find. Independent verification will help build confidence that the new rules are doing what was intended. The energy sector is a key partner in this: after all, they are the ones who will go out into the field to fix the leaks. They need clear, considered guidelines to work within, and we hope the new law, as it is formed, provides these.
We also welcome the inclusion of coal production in these proposals. Mines can produce huge quantities of methane: the largest emission our constellation has seen to date was recorded over an open pit facility in Russia. Despite this, there has been very little discussion of the problem. That is now set to change, and we are pleased to see that emissions from abandoned mines have not been forgotten.
Reducing industrial methane emissions represents our best near-term opportunity to slow the rate of global warming. This new package of measures is a testament to this and sends an important signal: working together, we can make a difference.
Read the European Commission’s press release.
