Methane gas emissions from the US oil and gas industry are greater than government estimates, according to a study led by the Environmental Defense Fund (EDF).
The study indicated that the annual industry-level methane emissions from oil and gas operations stand at 13 million metric tonnes, which is 60% more than the levels currently estimated by the US Environmental Protection Agency (EPA).
Scientists noted that methane is a potent greenhouse gas, which has more than 80 times the climate warming potential of carbon dioxide over the first 20 years after it is released.
The current leak rate for methane, which is the main ingredient in natural gas, from the US oil and gas system is 2.3%, as against the 1.4% estimated by the EPA, the study noted.
Researchers estimated that the amount of methane emitted into the atmosphere from the operations is worth $2bn and can be used to provide natural gas to power ten million homes, pointing to a lost business opportunity for companies.
In partnership with 19 co-authors from 15 other institutions, the EDF researchers made the observations on the basis of new research and integration of more than five years of underlying methane emissions research.
EDF chief scientist Steven Hamburg said: “Scientists have uncovered a huge problem, but also an enormous opportunity. Reducing methane emissions from the oil and gas sector is the fastest, most cost-effective way we have to slow the rate of warming today, even as the larger transition to lower-carbon energy continues.”
The research featured measurements from more than 400 well pads in six basins, as well as several midstream facilities and other infrastructure.
Study co-author Allen Robinson said: “Although we confirmed that methane emissions are substantially higher than previously thought, the good news is that our new understanding provides a cost-effective path forward to eliminate the waste of this valuable resource.”
EDF is targeting a 45% reduction in global oil and gas methane emissions by 2025.
Oil and gas companies worldwide are seized of the urgency needed to reduce methane gas emissions.
Several companies such as BP, Shell, ExxonMobil and other producers have set methane reduction targets.
