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Japan plans to announce a new public-private framework to help reduce methane emissions across the liquefied natural gas supply chain as concerns about rising temperatures force governments to take more aggressive climate action.
Details are expected to be announced during the LNG Producer-Consumer Conference on Tuesday in Tokyo, Minister of Economy, Trade and Industry Yasutoshi Nishimura said, without elaborating. Japan, the US, the EU, Australia and South Korea are in final talks on a mechanism to monitor methane emissions that would involve setting up a database of real-time pollution for individual LNG projects, the Financial Times reported earlier.
Global talks to limit emissions from fossil fuels are accelerating as governments look to tackle extreme heat that is already putting 2023 on a trajectory to become the warmest year since record keeping began in the 1800s. US climate envoy John Kerry met with China’s top diplomat Wang Yi earlier Tuesday as the top two greenhouse gas emitters seek to collaborate to fight climate change despite deep discord over other issues.
Methane is the primary component of natural gas and responsible for almost a third of the heating since the industrial revolution. Cutting leaks and intentional releases of the potent greenhouse gas, which has more than 80 times the warming power of carbon dioxide during its first two decades in the atmosphere, is one of the cheapest ways to combat climate change.
Japan’s Jera Co. and Korea Gas Corp., the world’s biggest LNG buyers, are expected to announce a methane emissions reduction initiative at the LNG conference Tuesday, Jera spokesperson Hiroyuki Usami said, without providing further details.
