Japan, South Korea LNG buyers seek transparency on methane emissions

illuminem summarizes for you the essential news of the day. Read the full piece on Nikkei Asia or enjoy below:

🗞️ Driving the news: Over 20 Japanese and South Korean companies, led by JERA and Korea Gas, are launching the CLEAN initiative to increase transparency on methane emissions from liquefied natural gas (LNG) suppliers
• Major buyers like Tokyo Gas and Mitsubishi Corp. are involved, aiming to curb methane emissions, a significant driver of climate change

🔭 The context: Methane accounts for around 30% of emissions from oil and gas operations, making it a critical focus for climate action
• This initiative seeks to push suppliers to disclose their methane footprints, helping companies make more sustainable choices in their LNG sourcing

🌍 Why it matters for the planet: Reducing methane emissions is vital for limiting global warming, as methane is significantly more potent than CO2 in trapping heat
• By promoting transparency, the initiative could help drive cleaner practices across the LNG supply chain

⏭️ What's next: LNG suppliers will face increasing pressure to disclose and reduce their methane emissions, and the success of the CLEAN initiative could lead to similar efforts in other regions

📈 One stat: Around 30% of methane emissions come from oil and gas fields and infrastructure, including pipelines.

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