API releases statement on NPC studies

“[These] reports reinforce the critical role of America’s energy workforce in powering our economy, supporting US security and driving innovation needed to reduce GHG emissions – both now and in the future. The US oil and natural gas industry is leading the world in accelerating methane detection, reduction and reporting technology and is poised to unleash low-carbon hydrogen energy at scale.

“To fully leverage America’s energy advantage and advance climate progress, continued collaboration between energy producers and policymakers will be essential. These studies lay important groundwork for harmonised federal methane regulations and for a clear and consistent permitting process for energy infrastructure, and we look forward to working with both federal and industry stakeholders and communities across the country to advance these recommendations.”

Reducing methane emissions is a priority for the US oil and natural gas industry to address the risks of climate change. Methane emissions from US oil and natural gas operations have fallen 37% since 2015 while energy production increased 39% in the largest US basins. Industry-led initiatives like The Environmental Partnership, whose members make up nearly 70% of US onshore oil and natural gas production, are helping to accelerate progress on methane emissions reductions by driving collaboration and sharing best practices across the industry. API also supports cost-effective policies and direct regulation of methane for new and existing sources and is committed to working with EPA to ensure a regulatory framework that helps advance the progress made to date.

The US oil and natural gas industry is also a leader in hydrogen - as producers, consumers and transporters of hydrogen. The US’ oil and natural gas sector is expected to play a significant role across the low-carbon hydrogen value chain, supporting the administration’s stated goal of producing 10 million t of hydrogen by 2030 and 50 million t by 2050. With the right policies, the US hydrogen economy is projected to generate 700, 000 jobs and an economic benefit of US$140 billion by 2030, according to estimates, while driving down CO2 emissions in hard-to-electrify sectors such as heavy industry, aviation, steel and cement.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/26042024/api-releases-statement-on-npc-studies/