On May 6, the U.S. Environmental Protection Agency (EPA) announced an update to the methane emissions reporting rules for oil and natural gas companies under the Greenhouse Gas Reporting Program. Driven by requirements from the Inflation Reduction Act, this update aims to enhance the accuracy and broaden the scope of annual emissions reporting.
What’s New in the Reporting Rules:
Better Transparency: The updated rules provide a clearer view of the methane emissions from oil and gas facilities and their full breakdown.
Enhanced Accuracy: New measurement methods, including the use of advanced technologies such as satellites, improve the precision of methane quantification.
Why It Matters
Methane is a potent contributor to climate effects, with oil and gas facilities being major sources. Improving the tracking of these emissions is key to managing and reducing their overall impact.
Subpart W Overview
Who It Affects: Facilities in the petroleum and natural gas sectors that emit over 25,000 metric tons of greenhouse gases annually.
What It Does: Subpart W sets detailed reporting requirements without directly regulating emissions. Facilities must document, calculate, and report their emissions while adhering to strict procedures for data management.
Support for the Industry
In conjunction with stricter rules, the EPA is facilitating over $1 billion in support to aid oil and gas companies in transitioning to technologies that produce fewer emissions.
Looking Ahead
The enhancement of Subpart W rules is a significant step toward aligning the oil and gas industry with the latest Clean Air Act standards and reducing methane emissions effectively.
Harmony Analytics and Your Business
As environmental regulations evolve, keeping your business informed and adaptable is crucial. Harmony Analytics offers tools and services designed to assist in complying with these new requirements and advancing your environmental strategy. Get in touch with our team to find out how we can help you navigate these changes and efficiently manage your emissions reports.
