Environmental Protection Agency Finalizes Methane Rules
The U.S. Environmental Protection Agency has finalized greenhouse gas reporting requirements under its Greenhouse Gas Reporting Program (GHGRP) for methane emissions in the oil and gas sector. As the Society of Petroleum Engineers noted, the GHGRP requires reporting of greenhouse gas (GHG) data and other relevant information from large GHG emission sources, fuel and industrial gas suppliers, and carbon dioxide injection sites. Owners or operators collect GHG data; calculate GHG emissions; and follow the specified procedures for quality assurance, missing data, recordkeeping, and reporting.
The EPA said the new rules aim to ensure greater transparency and accountability for methane pollution from oil and natural gas facilities by improving the accuracy of annual emissions reporting from these operations.
The rule will allow the use of technologies such as satellite systems to track, quantify, and calculate methane emissions, according to the EPA.
Under the final regulation, businesses that emit more than 25,000 metric tons of carbon dioxide equivalent will be assessed a fine starting at $900 per metric ton for 2024 reported methane emissions and increasing every year thereafter.