Unaccounted for Gas (UFG) in gas network utilities, particularly methane emissions, is a significant yet often overlooked environmental and financial burden. The increasing concern about environmental issues has placed immense pressure on the oil and gas industry to reduce greenhouse gas (GHG) emissions. Methane, a potent GHG with up to 86 times the Global Warming Potential (GWP) of CO2, has garnered attention at COP26, where 105 countries signed the Global Methane Pledge, committing to a 30% reduction in methane emissions by 2030. It is evident that curbing methane emissions from gas networks holds immense potential for making a substantial impact on global climate change goals.
Laïla LOSSON - Page 3
World natural gas demand fell by 1.6% amid unprecedented energy crisis and strong inflation
2022 marked the worst natural gas and energy crisis in history due to the Russian invasion of Ukraine. The war in Ukraine has strongly impacted the global natural gas market because of the predominant role of Russian gas in European energy supply. Russian pipeline gas exports to Europe slumped to the lowest level observed since the mid-1980s, resulting in a loss of 77 bcm, equivalent to 20% of EU gas consumption in 2021, which had to be replaced. The global gas market was already tight in 2021 and the Russian gas supply crisis has thus further exacerbated the tightening and the volatility of gas markets. Prices of all commodities and energies spiked and the European gas prices in particular showed an exceptional volatility. Countries responded to energy security issues and high gas prices with gas-to-coal switching (Germany, Asia), energy savings and an acceleration of the development of clean energy technologies. Furthermore, the slower economic growth and the explosion in gas prices led to a destruction of industrial gas demand.
GLOBAL BIOMETHANE MARKET 2023 ASSESSMENT – From ambition to action
According to CEDIGAZ’s Annual Report on Global Biomethane, the global biomethane or renewable natural gas (RNG) industry grew by 23% in 2022, with production increasing from 6 billion cubic meters (bcm) in 2021 to 7.4 bcm in 2022. The market is expected to expand significantly over the coming decade and beyond, and it has the potential to surpass 100 bcm by 2030 if appropriate policies and regulations are implemented.