Experts call for innovation, cross-sector partnerships and funding to tackle global methane emissions

Methane, the main component of natural gas, is increasingly recognised as both a climate and economic priority for the global energy sector. Potent and short-lived compared to CO2, it represents not only a climate challenge but also a financial opportunity. However, despite the availability of technologies to detect and curb emissions, large-scale adoption has been slow. Against this backdrop, industry leaders explored why methane reduction is a critical opportunity and how collaboration, innovation, and policy can drive progress. 

To begin with, Zubin Bamji, manager at the energy and extractives global department of the World Bank, highlighted the scale of the issue and the potential benefits of action. “About 30% of all methane emissions globally come from the oil and gas sector, and half of that is in developing countries. By monetising pilot projects, companies can see the significant economic and energy security benefits of methane reduction,” he said. Bamji also pointed to the World Bank’s global flaring and methane reduction partnership, which provides technical assistance and grants to operators in the developing world. 

Building on this, Leye Falade, MD and CEO of Brunei LNG, emphasised the operational and structural challenges in brownfield assets. “Reprofiling equipment to monitor and reduce emissions requires balancing risk, cost, and operational constraints. Partnerships that provide technology, knowledge transfer, and funding are essential to make meaningful progress,” he explained. 

In addition, William Jordan, Chief Legal and Policy Officer of EQT, highlighted the role of knowledge sharing and strategic investment. “Methane reduction is fundamentally a knowledge and capital problem. By replacing old equipment and sharing our methods through cross-sector partnerships, we’ve reduced methane intensity by roughly 90% over six years,” he said. Jordan further stressed that replicating these successes requires collaboration across the entire value chain. 

Finally, Philip Mshelbila, MD and CEO of Nigeria LNG, focused on prevention and detection as key priorities. He concluded: “Methane is energy - it’s good if captured. Through careful monitoring and interventions, we’ve already reduced flaring significantly. The challenge now is enabling smaller operators to access the funding and technology needed.”