Happy Thursday!
We love a follow-up to a follow-up! We spoke in our Blog about the upcoming implementation of the
Methane Rules and about the impending Methane Emission Fees. We blogged about the new tools being used for example MiQ-Highwood Index™, and MethaneSat. We blogged at the end of March 2024, about the Oil
and Gas Industry stepping up and upgrading and implementing the latest technology
to help clean up their emissions as well as monitor their own methane by
satellites, cameras and other technology.
Well, the U. S. Environmental Protection Agency (EPA) has taken
notice of the under reporting and is implementing new standards for reporting.
Did anyone happen to read the Oil & Gas
Journal’s Daily Update Newsletter on May 7, 2024, their article titled, “Biden
administration finalizes strict methane reporting standards”? The article was on how U.S. EPA on May
6 released their reporting standards for greenhouse gas (GHG) which include
methane by changing the ways oil and gas companies calculate and report their
emissions. The modernized Greenhouse Gas
Reporting Program (GHGRP) was in need of improvements due to companies were underreporting
their GHG emissions and with all the new technology and satellites the discrepancies
between real and reported are more readily known. The GHGRP’s calculations will help to figure
out a company’s Waste Emissions Charge (WEC) when it is over the baseline of 25,000
tonnes/year of GHG emissions. Starting
this year for every additional tonne of GHG over the baseline will cost $900,
and the cost will increase by $300 /tonne in 2025 and it will be up to $1500/tonne by 2026 on
these emissions. The EPA has implemented
a plan to stop wasting natural gas with unnecessary flaring and cleaning up
emissions to help our fight against climate change and to protect American consumer.
If you would like to read more of Oil
& Gas Journal’s article, please click the link: Biden
administration finalizes strict methane reporting standards | Oil & Gas
Journal (ogj.com).
If you would like to see the EPA’s new Methane
Rules for Oil and Gas, please click the link: EPA's Final Rule for Oil and Natural Gas Operations Will Sharply Reduce Methane andOther Harmful Pollution. | US EPA.
If you would like to information on the revisions to
the Greenhouse Gas Reporting Program for the oil and gas industry,
please click the link: Revisions to GHGRP Subpart W (Petroleum and Natural Gas Systems) | US EPA.
If you would like information about the technical and
financial help offered by the Methane Emissions Reduction Program,
please click the link: Financial and Technical Assistance from the Methane Emissions Reduction Program | US EPA.
If you would like to see some suggested equipment
from the EPA to reduce emissions, please click the link: Methane Mitigation Technologies Platform | US EPA.
If you would like help in looking into how to reduce
your methane emissions on your liquid petroleum product with emission controls
and help with adopting best practices, contact us via email in the blog and
check out our ESC's website!
We hope you
have a wonderful evening!
**Disclaimer:
You may be charged a fee to read the Oil and Gas Journal’s article. **