Global methane leaks totaled 3.5 trillion cubic feet in 2012
FRISCO — Reducing methane leakage from drilling sites, pipelines and storage tanks represents a huge low-cost opportunity in the battle to cut greenhouse gas emissions, according to a new report that says 3.5 trillion cubic feet of gas — worth about $30 billion — escaped from oil and gas sector operations in 2012.
The majority of oil and gas methane leakage comes from a handful of countries, with the top seven emitting countries responsible for over half of the global total in 2012. Despite the huge scale of the methane loss, very few have taken steps to regulate leakage from the oil and gas sector, or set specific goals to reduce emissions in the future. But the benefits of doing so would be considerable, according to the report.