The "2026 Global Methane Tracking" report released by the International Energy Agency on the 4th shows that global methane emissions related to fossil fuels will still be at an "extremely high" level in 2025, and there is no sign of a decline globally. Against the backdrop of the current energy crisis, addressing methane emissions can bring significant energy security benefits. The report states that in order to address global warming and improve air quality, many countries and companies have proposed methane emission reduction targets in recent years. However, by 2025, methane emissions from the energy industry are approaching historical highs, indicating a significant gap between emission reduction commitments and implementation. The report points out that reducing methane emissions can also help improve energy security. After the disruption of shipping in the Strait of Hormuz, global liquefied natural gas supply has decreased by about 20%, and energy security has become an important concern for all countries. The report estimates that if some countries with natural gas export capabilities and natural gas importing countries implement relevant methane emission reduction measures in their natural gas systems, they can release nearly 15 billion cubic meters of natural gas to the market in the short term. In the long run, the global oil and gas industry can release nearly 100 billion cubic meters of natural gas to the market annually by reducing methane emissions. The report suggests that many methane reduction plans are already very mature and cost-effective. By utilizing existing technology, methane emissions related to fossil fuels can be reduced by approximately 70%. In addition, one effective way to reduce methane emissions is to control upstream emissions in the energy industry. Currently, upstream methane emissions in the oil and gas industry account for 80% of the total industry emissions. Tim Gould, Chief Energy Economist of the International Energy Agency, stated that setting methane emission reduction targets is only the first step in governance, and it is important to ensure that these targets are supported by policies, implementation plans, and practical actions. This is not only a climate issue, but addressing methane emissions can also bring significant energy security benefits, especially in the current energy crisis that urgently requires additional energy supply worldwide. (Looking into the New Era)
Edit:hechuanning Responsible editor:susuiyue
Source:xinhua
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