Guide and Company Directory for the Oil and Gas Sector
Increased inter-governmental cooperation on climate change has prompted over 180 countries to seek ways to achieve their Paris Agreement goals. In oil and gas producing nations like Canada, this has led to initiatives targeting greenhouse gas (GHG) emissions, particularly methane.
Methane, with a Global Warming Potential 25 times greater than carbon dioxide, accounts for up to 25% of global warming from GHGs. Reducing methane emissions in oil and gas operations offers near-term benefits, such as slowed global warming, improved air quality, and destruction of hazardous impurities in raw gas streams1. Methane mitigation can be cost-effective2 compared to Carbon Capture Utilization and Storage (CCUS)3.
The upstream oil and gas sector contributes significantly to global methane emissions, with an estimated 11 BCF/day of methane lost from global operations4, potentially causing a $30 billion annual product revenue loss5. In Canada, the oil and gas sector accounts for 38% of methane emissions. Canadian innovators have developed cost-effective technologies to reduce or convert methane emissions into saleable products.
This guide and company directory aim to share Canada’s expertise in methane emissions reduction within the oil and gas sector, assisting both Canadian producers and other oil and gas producing countries in addressing upstream and midstream methane emissions.
2 PTAC public report “Systemic Third Party Methane Reduction Project” – 2023
3 Circular Carbon Economy Section 6 Remove: Carbon Capture and Storage, August 2020, Figure 5, Global Capture and Storage Institute, https://www.globalccsinstitute.com/wp-content/uploads/2020/11/Remove-Carbon-Capture-and-Storage-6.pdf
4 https://www.iea.org/reports/methane-emissions-from-oil-and-gas and PTAC: 82 MT methane/year, converted to oil field units. Global methane emission from all sources are estimated at 570 MT methane/year.