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Japan, South Korea LNG buyers seek transparency on methane emissions

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By illuminem briefings

· 2 min read


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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