Need reasons to reduce methane emissions now?
We are all focused on something. Focus on chasing down ways to further reduce methane emissions now.
Consider these reasons to reduce methane emissions:
- Methane (a major component of natural gas) is product and capturing it and sending it to sales increases profits.
- Since methane is now a regulated greenhouse gas air pollutant, expect that one day state agencies or the federal government will assess fees on methane emissions based on annual reported GHG emission inventories. GHG data reported on record with EPA could be a source of data for assessing fees. See EPA FLIGHT
- EPA is expected to propose regulations for methane sources based on the mandate of the Climate Action Plan (CAP). A goal of the CAP is to cut methane emissions from the oil and gas sector by 40 to 45 percent from 2012 levels by 2025. These rules will affect new methane emission sources. Recent published reports indicate that methane emissions from onshore and offshore (Gulf of Mexico) oil and gas production facilities may be targeted for further reductions.
- Methane leaks are a focus of the EPA and the country. This includes leaks from fugitive sources (valve, flanges, connections, seals, etc.) and point sources such as storage tanks. Expect more Leak Detection and Repair (LDAR) programs to be required in the future.
- Methane emissions are an ongoing environmental liability because their GHG impact can last for several years after discharge. Just like lawsuits were filed for tobacco damages, we could see companies having to deal with lawsuits regarding damages from their facilities’ GHG emissions. More lawsuits alleging damages for the harm caused by greenhouse gas emissions may not be far away. See Environmental Liabilities and the Federal Securities Laws: A Proposal for Improved Disclosure of Climate Change Related Risks
- The image on social media can be enhanced for companies taking voluntary, pro-active stances to reduce emissions due to methane venting and flaring. This can reduce the political pressure to require more command and control regulations.
- Reducing methane emissions increases safety.
- Reducing methane can enhance a company’s sustainability metrics that are closely followed by investors.
- One Future Coalition is an industry led organization with the goal of voluntarily reducing leak rates to a maximum of 1%. Participating in One Future Coalition adds to the credibility to voluntary measures to reduce air emissions.
- Voluntary reductions of methane emissions can be reported to the EPA Natural Gas STAR Participating companies are recognized publicly and by their peers.
The drivers for future methane emission reductions are in the works now. Contact HY-BON to find out more of how we can help your company with your Vent Gas and Methane Management.