Global methane emissions from fossil fuels remain extremely high, while a significant portion could be avoided. Measures to tackle methane emissions are often very cost-effective and could have brought an extra 100 billion cubic meters of gas to market in 2024, the IEA’s Global Tracker shows.
According to the International Energy Agency (IEA), one-third of global methane emissions come from fossil fuels, but the sector is making little effort to reduce emissions. In addition, oil, gas, and coal production reached record highs.
‘Double dividend’
“Tackling methane leaks and flaring offers a double dividend: it alleviates pressure on tight gas markets in many parts of the world, enhancing energy security – and lowers emissions at the same time,” said IEA Executive Director Fatih Birol.
“However, the latest data indicate that implementation of methane has continued to fall short of ambitions. The IEA is working to ensure that governments and industry have the tools and knowledge to deliver on pledges and achieve their goals.”
Existing technologies
The fossil fuel sector accounts for nearly one-third of global methane emissions from human activity today. According to the report, record global production of oil, gas, and coal, along with limited mitigation efforts to date, have kept methane emissions from the energy sector worldwide above 120 million tonnes annually.
According to the report, around 70% of annual methane emissions from the energy sector could be avoided with existing technologies. Meanwhile, a significant share of abatement measures could pay for themselves within a year, since the gas that is captured can be resold.
Methane contributes to global warming
Methane gas (CH4) contributes significantly to global warming. Methane traps more heat than the same amount of CO2, but does not stay in the atmosphere as long as CO2.
Based on today’s policies, deploying targeted methane mitigation solutions in the fossil fuel sector would prevent a roughly 0.1 °C rise in global temperatures by 2050. This is comparable to eliminating all the carbon dioxide emissions from heavy industry worldwide.
