Methane emissions challenge the global oil and gas industry and the role and reputation of natural gas in a decarbonizing world. Credibly demonstrating near zero methane emissions is both an imperative and a competitive differentiator for companies in the early phases of the energy transition.
However, the oil and gas industry has a methane emissions data problem. The majority of emissions data is derived from desktop calculations, not real-world measurements. Around the world, research reveals that methane emission inventories consistently underestimate, and in some cases overestimate, real emissions. This uncertainty can compromise the integrity and credibility of reported information for governments, civil society and investors.
Improving the accuracy of methane emission estimates is necessary to instill confidence that progress is being made. This report outlines an enhanced approach to measuring and reporting methane emissions.
While the journey begins with increased and improved data acquisition, it does not end there. This paper explores three critical actions that executives must champion to improve data accuracy and earn stakeholder confidence that methane commitments are real.