US to slash methane from oil and gas industry

The US and EU have announced to slash emissions of greenhouse gas methane by 2030 as a strategy to cope with climate change.

The announcement was made by President Joe Biden and EU Commission chief Ursula von der Leyen at the COP26 summit on Tuesday.

President Biden has set a goal to slash greenhouse gas emissions by more than 50% by 2030.

Methane emissions are also to be reduced by 30% by 2030 according to a worldwide initiative signed by more than a 100 countries at COP26.

Methane is the second most harmful greenhouse gas inducing climate change after carbon dioxide. Reducing its emissions will have a significant impact on the World’s climate.

COP26 is focused on getting countries to commit to achieve net zero emissions by 2050; not adding to the amount of greenhouse gases in the atmosphere.

“We cannot wait for 2050, we have to cut emissions fast,” EU Commission chief Ursula von der Leyen told the summit.

Biden called methane “one of the most potent greenhouse gases there is.”

The Environmental Protection Agency (EPA) will direct oil and gas operators to detect and repair methane leaks. One third of methane emissions are caused by oil and gas operations.

“The timing of this is critical. As we speak, world leaders are gathering right now in Glasgow and they are looking to the United States for true leadership,” EPA Administrator Michael Regan told Reuters. “This proposal is absolutely bold, aggressive and comprehensive.”

The initiative requires companies to monitor 300,000  of their biggest well sites every three months. The rules are likely to take effect by 2023 according to Reuters.