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Methane emissions from the energy sector remained near a record high in 2023, according to a new report by the International Energy Agency (IEA). The production and use of fossil fuels resulted in around 120 mn tons (Mt) of methane emissions in 2023, while a further 10 Mt came from bioenergy — energy produced from organic material known as biomass. This is around the same level of methane emissions since it peaked in 2019, which means that “overall emissions remain far too high to meet the world’s climate goals,” the report concluded. The energy sector accounts for more than one third of total methane emissions.
The US is the biggest culprit, with Russia and China not far behind: The US is now the biggest source of methane emissions from oil and gas extraction globally, the report found. “Now that the US is the world’s largest producer of oil and gas, its industry must finally commit to near-zero methane emissions by the end of this decade,” former Clinton White House climate adviser Paul Bledsoe said according to the Guardian. Russia came in second in methane emitted globally, and China in third, while also holding the rank of the biggest emitter of methane from coal mining, the report found.
Unnecessary leaks: Leaks from coal mines and oil and gas wells are the biggest sources of methane. Some countries scored more than 100x better than others with regards their methane emissions intensity (or leakage) — a measurement of how well a facility performs as a ratio of methane released versus the total natural gas produced. Large methane emissions events detected by satellites also rose by more than 50% in 2023 compared to the year before, with more than 5 Mt of methane emissions detected from major fossil fuel leaks around the world
MENA fared well in terms of intensity performance: MENA and GCC countries including Saudi Arabia, the UAE, Iraq, and Algeria have relatively low emissions intensities while Turkmenistan and Venezuela hold the rank of worst offenders, the report states. The amount of methane lost in fossil fuel operations globally last year was 170 bn cubic meters, surpassing Qatar’s natural gas production, the report stated.
There’s some good news: Since fossil fuel supply has continued to expand since then, this indicates that the average methane intensity of production globally has declined marginally during this period. more governments and fossil fuel companies have committed to take action on methane. Global efforts to report emissions estimates consistently and transparently are strengthening, and studies suggest emissions are falling in some regions.
So, what can be done? To successfully reach the global goal of net zero by 2050, USD 170 bn will need to be spent by 2030 to reduce global methane emissions by 75%, equivalent to about 5% of the profits made by fossil fuel firms last year. This is because all current methane policies and pledges made by countries and companies to date are not sufficient and would only reduce methane emissions from fossil fuels by around 50% by 2030.
Methane abatement is the obvious place to start: Around 40% of the 120 Mt of methane emissions from fossil fuels could be avoided at no net cost given that the required expenses for abatement measures — techniques that can be applied across oil and gas value chains to reduce emissions — are less than the market value of the additional methane gas captured and sold or used, the report finds. The abatement gains are higher for oil and natural gas (50%) compared to coal (15%).
