Data on methane emissions from oil and gas companies is now being closely watched and made publicly available, putting pressure on the industry to reduce its environmental impact. Satellites, government agencies, environmentalists, investors, and even potential investors are keeping a keen eye on methane emissions.
While the U.S. is rolling out methane regulations, critics argue that they are incomplete and may harm the industry. However, accurate data on emissions is crucial for implementing effective solutions to reduce environmental harm.
One company, Kathairos, is focusing on reducing methane emissions from pneumatics, a major source of methane in the oil and gas sector. Despite the industry lowering average emissions by nearly 66%, it remains a significant contributor to methane emissions in the U.S.
Methane, a potent greenhouse gas, has a significant impact on global warming and can be harmful to both humans and the environment. Regulators are taking action to reduce methane emissions, with new rules mandating monitoring and reductions in emissions from various equipment.
Public shaming is also becoming a tool to hold companies accountable for their emissions, with satellites monitoring methane emissions in oil and gas basins. Emissions data is starting to play a role in financial reports, adding pressure on companies to reduce their environmental impact.
Industry leaders emphasize the importance of providing empirical data and implementing economic solutions to drive value and reduce emissions. Collaborative efforts within the industry, such as the Oil and Gas Methane Partnership 2.0, are also seen as crucial in mitigating methane emissions.
While challenges lie ahead, industry experts stress the need for proactive measures and realistic preparations to address methane emissions effectively in the long term.
