Driving Down Methane Leaks from the Oil and Gas Industry: A Regulatory Roadmap and Toolkit
Overview
Reducing methane emissions from oil and gas operations is one of the most cost-effective and impactful actions to achieve global climate goals. Countries can learn from jurisdictions that have already implemented methane-specific regulations to design frameworks tailored to their local circumstances. Improving measurement and reporting of emissions data can lead to more efficient regulatory interventions.
Key Points
- First Steps: Countries can take initial actions based on existing tools, such as prescriptive requirements on known "problem sources" combined with monitoring programs to detect and address large emissions sources.
- Phases of Implementation:
- Step 1: Understand the local legal and political context.
- Step 2: Characterize the nature of the industry.
- Step 3: Develop an emissions profile.
- Step 4: Build regulatory capacity.
- Step 5: Engage stakeholders.
- Step 6: Define regulatory objectives.
- Step 7: Select the appropriate policy design.
- Step 8: Draft the policy.
- Step 9: Enable and enforce compliance.
- Step 10: Periodically review and refine the policy.
- Toolkit: Provides essential elements and additional resources for designing and implementing effective methane regulations.
Regulatory Structure
The toolkit covers various aspects of regulatory design, including:
- Approaches to Regulation: Different methods and strategies for regulating methane emissions.
- Essential Elements: Key components necessary for successful regulation.
- Additional Resources: Tools and references for further support.
Conclusion
Implementing a comprehensive regulatory framework to reduce methane leaks in the oil and gas industry is crucial for achieving climate goals. By following a structured approach and leveraging existing best practices, countries can effectively manage and mitigate methane emissions.
