Methane is a highly potent greenhouse gas that has become pivotal to the race to halt catastrophic climate warming. With this in mind, both governments and oil and gas operators have been committing in ever greater numbers to ambitious targets to reduce methane emissions in line with the Paris agreement. Central to these efforts will be the need to accurately measure methane emissions – to ensure policy makers have data that drives methane mitigation and that investors have the robust, verifiable measurements they need to manage climate risks. Furthermore, as interest in ‘green gas’ increases, certification of methane emissions will increasingly become a condition of access to some international oil and gas markets, and a further stimulus for real, measured and verifiable emission reductions.
Measuring methane, though, is a challenging business, with information used to track methane emissions today often based on extrapolation from very limited measures. However, advanced technologies, including new satellite, aircraft and fixed monitoring capabilities are now enabling robust, reliable measurement at an unprecedented scale, holding the promise of near continuous measurement from every corner of the globe. ‘Keeping methane in the pipe’ is the priority for the gas sector, but faced with the reality of today’s emissions, how can the challenges of measuring methane emissions be addressed? How does methane measurement work, and how should companies combine technology and data to drive change across their operations? And is the shift from using emissions factors to using source emissions data from advanced technology helpful or about to cause more confusion for stakeholders? How should we think about the balance between measuring methane and taking practical steps to manage emissions?
This exclusive Financial Times Dinner Briefing, held in partnership with Chevron, will bring together thought leaders, policy makers, investors and industry experts to discuss the complexities of methane measurement, and the solutions that are emerging to make achieving measurable reductions in methane emissions a reality across the global oil and gas industry.
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