EBRD has commissioned Carbon Limits to perform a study to support the Bank in understanding the scale of current and future methane emissions from the oil and gas operations within the EBRD region, as well as their economic impact.
Countries in the EBRD region contribute more than 30% of global methane emissions from oil and gas activities (production and processing, refining, transmission, distribution) which amounts to over 2.5GtCO2e per annum. In addition to the GHG impacts, there are economic losses associated with methane emissions as emitted gas is not delivered to the market: 2.5 to 9 billion USD is wasted every year in the EBRD region, depending on the emissions estimates used and assumed gas price.
A number of mature technologies are available to reduce these emissions cost-effectively. For this study Carbon Limits created a customized model to estimate the abatement potential and abatement costs for methane abatement technologies for petroleum sector in the EBRD region and identified barriers to their deployment.
Carbon Limits analysis shows that there are ample opportunities for implementing methane emission reduction measures in the oil and gas sector of EBRD countries which offer large GHG benefits and are economically attractive.