Certification process to reduce methane emissions
A new certification process will aim to reduce methane emissions from oil and gas production.
Methane is a highly potent greenhouse gas, with more than 80 times the warming power of carbon dioxide over a 20-year period.
The oil and gas industry emits an estimated 84 million tonnes of methane every single year, this equates to the same emissions of the world’s total on-road transport fleet.
In a bid to reduce these emissions, MiQ an independent non-profit organisation, have designed a certification system.
The framework will assess methane emissions management across three criteria: methane emissions intensity at a facility level; monitoring technology deployment; and company practices.
The MiQ certification will then be audited by a third party and will work to complement existing voluntary schemes.
The market-based certification will generate different price levels that can create an economic incentive for companies to abate their methane emissions.
Georges Tijbosch, Senior Adviser, MiQ, said: ‘The future must be powered by 100% clean energy. MiQ’s mission is to reduce the climate impact of methane emissions from the oil and gas sector until we get there.
‘75% of methane emissions from oil and gas production can technically be abated today. That is equivalent to the reductions in CO2 emissions that’d be achieved if we could immediately shut down 60% of the world’s coal-fired power plants and replace them with zero-emissions generation.
‘But methane emission abatement regulation is taking too long and voluntary schemes are not having the impact needed. That is why MiQ Certification is a vital step forward now in methane abatement in the oil and gas industry.
‘By credibly certifying gas based on its methane emissions performance, we can create a differentiated gas market. This will allow suppliers to make purchasing decisions based on the environmental impact of gas, creating a financial incentive for producers to invest in the technology, procedures and policies that reduce their methane emissions.’
Photo Credit — Pixabay
