Global fossil fuel operations continue to emit excessive emissions, and 2024 could be a tipping point.
International Energy Agency or IEA, a Paris-based autonomous intergovernmental organisation’s assessment released on March 13, stated that methane emissions from the energy sector in 2023 stayed close to a record high even after the oil and gas industry made numerous promises to seal leaky infrastructure.
The organisation expressed optimism, meanwhile, that new satellites would contribute to better transparency and monitoring of methane leaks, which are a powerful greenhouse gas that accounts for around one-third of the rise in global temperatures ever since the Industrial Revolution.
Tim Gould, an IEA chief energy economist, stated that the emissions from fossil fuels operations were relatively high. He also mentioned that the year 2024 could prove to be a “turning point.”
Nearly 200 Countries Commit to Slash Methane Emissions
According to the report, the production and consumption of fossil fuels released over 120 million metric tonnes of methane into the atmosphere in 2022, a little increase over 2022. The IEA‘s Global Methane Tracker indicates that since 2019, methane emissions have remained at this level.
The study found that in 2023, large methane plumes from leaking fossil fuel infrastructure increased by 50% over 2022. A well blowout in Kazakhstan that lasted for more than 200 days was one super-emitting event that was seen by satellites.
International climate targets cannot be attained by the current level of global methane emissions. According to IEA estimates, methane emissions from fossil fuels must decrease by 75% this decade in order to meet a major target of the Paris Agreement: keeping global warming to 1.5 °C.
In addition to the earlier promise made by more than 150 countries to reduce global methane emissions by at least 30% from 2020 levels by the end of this decade, nearly 200 countries decided to promptly and substantially cut methane emissions at the United Nations climate summit in Dubai, United Arab Emirates (UAE) which took place between November 30 to December 12 2023.
Nevertheless, as compared to the IEA’s most recent estimate, nations and businesses continue to greatly underreport the amount of methane emissions from their oil and gas operations.
Satellites Offer Improved Monitoring for Methane Leaks
The IEA stated that satellites might be able to close that gap. A new methane-detecting satellite, supported by the Environmental Defense Fund and Google, a division of Alphabet Inc., was sent into orbit earlier this month.
Methane emissions are now being monitored by the European Space Agency, a Paris-based 22-member intergovernmental body and another satellite-based tracker in Montreal called GHGSat. However, the new MethaneSAT will offer far more detailed data and a much wider field of view. Launched in 2024, MethaneSAT is a space project with American and New Zealand roots that was launched alongside SpaceX’s Transporter 10 rideshare mission. In an effort to slow down climate change, this Earth observation satellite will track and investigate methane emissions worldwide.
Christophe McGlade, the Head of the Energy Supply for the IEA, stated that the year 2024 will mark a turning point in methane action and transparency.