US government announces $850 million initiative to slash methane emissions in oil and gas sector
The U.S. Department of Energy (DOE) and the US Environmental Protection Agency (EPA) have announced the launching of applications for federal funding totalling $850 million in a press release.
The intention of the funding is to support projects within the oil and gas sectors that focus on monitoring, measuring, quantifying, and reducing methane emissions, aligned with President Biden’s Investing in America initiative.
The DOE mentions that oil and natural gas establishments are the case behind the country’s largest industrial source of methane.
Also read: US government’s new policy to govern usage of voluntary carbon credits
This funding will particularly aid small oil and gas operators in remitting methane emissions and transitioning to technologies that reduce methane emissions.
In addition, the funding intends to boost the repair of methane leaks from low-producing wells and the deployment of early-commercial solutions across various equipment.
The funding also eyes to improve community access to monitoring data and foster partnerships for enhanced regional methane detection, ensuring consistent nationwide data quality.
Also read: World Bank warns against rising global gas flaring, calls for regulations
The announcement adds to the efforts by the Biden administration to significantly reduce methane emissions.
The efforts include agencies taking 100 initiatives in 2023 and finalizing a rule passed by the EPA that aims to reduce 80% of methane emissions from oil and gas facilities.
A competitive solicitation for the $850 million funding will invite a diverse range of eligible U.S. entities to apply, including industry, academia, non-governmental organizations, Tribes, and state and local governments.
EIB Global supports €271 million Egyptian climate and...
-
During the EU-Egypt Investment Conferenc...
- 02/07/2024
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
Iberdrola, a Spanish renewables company, announced that it has acquired the “80% it did not control of Balantia”. Iberdrola had initially entered the firm’s capital […]
Japan’s largest steelmaker, Nippon Steel and trading house, Sumitomo Corp, announced that they have renewed a long-term contract with Norway’s Equinor to supply seamless steel pipes […]
Cepsa announced that it has entered a strategic partnership with PreZero Spain to advance objectives related to decarbonization. According to the agreement, PreZero Spain will […]
In a new critique of the voluntary carbon market, over 80 non-governmental organizations have urged corporations to exclude carbon offsets from their transition plans, arguing […]
Luxcara, an independent German asset manager for clean energy infrastructure projects, announced that it has signed a “preferred turbine supplier”. The asset manager has signed […]
Genex Power announced that it has secured a five-year $107 million senior debt facility for its 50MW Kidston and Jemalong solar projects in Australia. The […]