• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 13 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Kazakhstan Targets Fintech to Boost Revenue and Curb Tax Evasion

Kazakhstan Targets Fintech to Boost Revenue and Curb Tax Evasion

Kazakhstan's government is targeting fintech,…

Capturing Methane Possible at Little or No Cost

The oil and gas industry can capture leaking methane gas at little or no cost over the long-term, according to a new study by the Environmental Defense Fund and ICF International Inc. The study suggests that leaking methane, which is a potent greenhouse gas, can be reduced by improved technology and equipment. The industry has resisted such a move because of its costs, but the study finds that the $2.2 billion cost would be offset by the capturing and selling the natural gas that is currently leaking.

The potential, according to EDF, is huge. The report argues that emissions-control technologies that are already proven can reduce methane emissions by 40% below their projected 2018 levels. Doing so would cost less than one cent per thousand cubic feet. This could be achieved by “shifting to lower-emitting valves, or pneumatics, that control routine operations, and improving leak detection and repair to reduce unintended methane leaks from equipment, also known as ‘fugitives,’” according to a press release by EDF. The industry could even save a combined $164 million per year.

Related Article: U.S. Army’s $7 Billion Interest in Renewable Energy

One interesting finding is that despite heady projections for growth in oil and gas production in the coming years, 90% of methane emissions in 2018 will come from already existing sources. And from the 100 categories of emissions sources, 80% of the leaking methane comes from just 22. In other words, the industry can target the few large sources of methane to get the bulk of reductions.

Leaking methane emissions are becoming a more prominent target for environmental groups seeking to reduce greenhouse gas emissions. The federal government has delayed national standards until 2015, with the rules only to affect new wells. But states are looking to pass their own measures to reduce methane leakage. Colorado recently became the first state to do so. Colorado’s new regulations will require drillers to install equipment that reduces methane emissions by 95%.

By Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News