IEA calls on oil, gas sector to further cut methane emissions

Methane emissions from the global oil and gas industry fell by an estimated 10% in 2020 as producers slashed output in response to the historic shock of the Covid-19 crisis, intergovernmental organisation the International Energy Agency (IEA) says, warning that these emissions could rebound strongly without greater action by companies, policy makers and regulators. Methane is a much more potent greenhouse gas than carbon dioxide (CO2) and makes a major contribution to global warming. According to the IEA’s 2021 update of its 'Methane Tracker', oil and gas operations worldwide emitted more than 70-million tonnes of methane into the atmosphere last year. This is broadly equivalent to the total energy-related CO2 emissions from the entire European Union.