A new online tool that helps track oil and gas-related sources of methane, a major greenhouse gas, has been launched.
The methane tracker provides the International Energy Agency’s (IEA) most up-to-date estimates of current oil and gas methane emissions, covering eight industry areas across more than 70 countries.
It also sets out the reductions that are possible using existing technology and sheds light on this under-explored component of energy transitions.
The IEA says the the concentration of methane in the atmosphere is currently around two and a half times greater than pre-industrial sectors and is increasing steadily – this has important implications for climate change as methane is a potent greenhouse gas.
Its analysis suggests global methane emissions from the oil and gas sectors could be reduced by nearly half at no net cost.
Dr Fatih Birol, the IEA’s Executive Director said: “The oil and gas sectors have an open goal in front of them. They can avoid close to 50% of their methane emissions without hurting the bottom line. Doing so would have the same long-term climate benefits as immediately eliminating emissions from more than half the cars on the road worldwide.”