🤔 Last week, the Iconic Air team attended ONE Future Methane and Climate Strategies Workshop. We took in a lot of great feedback (people seem to like our 101s [https://lnkd.in/eb4UYgCM] and regulatory guides [https://lnkd.in/eDYusi-n])
Here are the high points we took from conversations with operators and other industry practitioners:
📏 Measurement, Monitoring, Reporting, and Verification (MMRV) is accelerating, driven by both international and national policy [https://lnkd.in/eX2bgfr5] and technology.
⌛️ Lots of momentum to manage and reduce methane in the natural gas production, processing, transmission, and storage segments (emissions tend to be more concentrated and uncontrolled). Distribution and end-user methane management and technology still feels nascent, but stakeholder interest is starting to increase.
🛰️ Satellite methane surveillance generates a lot of data, and many found leaks can quickly overwhelm maintenance teams. Successful implementation includes (1) planning around suitable weather conditions, (2) implementing a "pizza slice" approach to the survey areas, (3) using analytics software to quickly identify company emissions, and (4) having a maintenance team at the ready. Reconciling these measured emissions in GHG inventories is not easy. We heard from folks at The University of Texas at Austin EEMDL and GTI Energy's Veritas on approaches to develop a measurement-informed GHG inventory.
YES, BUT:
🤑 MMRV and methane detection technology can be uneconomical and unattainable for leaner operators, who don’t have internal resources to commit to more of the leading edge activities underway.
💰 While there is lots of momentum to improve how oil and gas operators manage and mitigate emissions, the real immediate worries are the cost of compliance with new and proposed regulations and impact of the Waste Emissions Charge, which can have an outsized impacts on lower-capitalized operators.
See you all at the next one.
#emissionsreduction #IRA #oilandgasindustry
💰 OOOOb got you down? Methane Fee looking up and to the right? 📈
Come say hi to the Iconic Air team at the ONE Future Methane and Climate Strategies Workshop today in Tysons, Virginia.
Grab a pair of our #SustainabilitySocks™️ and chat all things OOOOb, Subpart W, Methane Fee, and SEC disclosures.
#methanereduction #emissionsmanagement #oilandgasindustry