While it is recognised that there we must move from fossil fuels to zero and low carbon energy sources, worldwide gas demand is expected to grow in the coming decades. This contrasts sharply with the picture for coal and oil, which drop globally by almost 60% and 30% respectively by 2040.
As efforts continue to decarbonize the energy system by adopting cleaner forms of energy, reducing oil and gas methane emissions is a fast and cost-effective way to slow the rate of global warming.
The “Mineral Methane initiative’s objective is to promote significant reductions in methane and black carbon emissions from the oil and gas sector.
Video: About oil and gas methane
The Mineral Methane Inititaitve strategy adopted by CCAC partners includes an aspirational goal of:
These objectives will be achieved through the following components:
Oil and Gas Methane Partnership - to provide a protocol to help companies systematically manage their methane emissions from upstream oil and gas operations, as well as a credible platform to help them demonstrate this systematic approach and actual reductions to stakeholders
Oil and Gas Methane Science Studies - to address a critical lack of global methane measurement data in the oil and gas sector to help prioritise company actions and government policies for addressing this important SLCP emissions source
Black Carbon Technology Demonstration - to reduce black carbon emissions by mobilizing finance and investment as well as developing best practices and policies for black carbon mitigation
Peer to Peer Regulatory Support - to support developing countries by promoting broad-based adoption of sector-scale policies, sharing successful best practice solutions for regulating methane emissions and reducing flaring, and providing technical and policy support for development of policies
[1] 45% reduction by 2025 is consistent with the commitment made by Canada, Mexico and the United States in 2016 to develop rules to reduce up to 45 percent of methane escaping from across the continent’s oil and gas industries by 2025.
[2] The International Energy Agency estimates the industry can reduce its worldwide emissions by 75 percent—and that up to two-thirds of those reductions can be realized at zero net cost (https://www.iea.org/weo2017)
Our ‘Mineral Methane Initiative' (formerly Oil and Gas Initiative) works to reduce methane and black carbon emissions from the oil and gas sector and raise awareness of the issue with governments and companies.
The methane landscape has changed as a result of our work. Through the CCAC, a growing number of international oil and gas companies are taking voluntary steps to integrate methane management in their operations and working with partners to raise the issue across the entire gas supply chain. Industry has also created its own platforms, like the Oil and Gas Climate Initiative (OGCI), and the Methane Guiding Principles (MGP). These recent developments led CCAC partners to rethink the initiative’s role to match the leadership shown by some industry partners and to promote wider endorsement of ambitious targets from governments and industry.
Key achievements include:
Funding as of Oct 2020: USD 4,062,053
Co-funding as of Oct 2020: USD 7.37 million
Catalysed funding as of Oct 2020: USD 11.5 million
Lead Partner: A Coalition partner with an active role in coordinating, monitoring and guiding the work of an initiative.
Implementer: A Coalition partner or actor receiving Coalition funds to implement an activity or initiative.
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