Reducing methane emissions from oil and gas operations could strengthen global energy security by making significant volumes of natural gas available to the market during a period of supply instability and elevated energy prices, according to the International Energy Agency (IEA).
In a recent analysis, the agency said around 200 billion cubic metres of gas could be recovered globally each year through stronger methane abatement measures and the elimination of non-emergency flaring.
According to the IEA, large volumes of natural gas continue to be lost annually through methane leaks and routine flaring across oil and gas infrastructure. The agency says recovering this wasted gas could provide additional supply to strained energy markets while also reducing emissions.
“This is not only a climate issue,” says IEA Chief Energy Economist Tim Gould. “There are also major energy security benefits that can come from tackling methane and flaring, especially at a time when the world is urgently looking for additional supply amid the current crisis.”
The agency says relatively simple operational measures, including replacing faulty equipment and capturing gas that would otherwise be flared, could unlock additional gas supplies within a relatively short timeframe.
The IEA further notes that methane reduction strategies are increasingly viewed as part of broader energy security and supply resilience planning, particularly as global gas markets remain under pressure.
Methane is considered one of the most potent greenhouse gases and is estimated to account for a significant share of global temperature increases. However, the agency stresses that methane abatement in the energy sector also presents a practical opportunity to improve operational efficiency and recover usable gas supplies.
