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(Bloomberg) — The world’s liquefied natural gas supply chains spew roughly 350 million tons of carbon dioxide equivalent a year — more than Italy’s annual emissions. For roughly $100 billion, that climate footprint could be cut by 60%, according to the International Energy Agency.
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The proposal identifies multiple low-cost opportunities that would significantly decrease LNG’s climate footprint. For instance, cutting methane leaks alone could bring down annual emissions by close to 90 million tons of CO2e, or 25% of total LNG emissions, the IEA said. About half of that reduction could be realized at no net cost.
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The report found that, on average, LNG results in about 25% less emissions than coal globally. However, the authors emphasized that natural gas producers and LNG operators need to be more ambitious about cutting their emissions.
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The emissions intensity of delivered LNG is about two-thirds more than that of regular natural gas, the agency said.
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“Comparing LNG only to coal sets the bar too low,” the authors said. “Those making an environmental case for LNG use need to focus on minimizing its GHG emissions intensity; it is not enough just to surpass the emissions performance of the most carbon-intensive fuel,” the report said, referring to greenhouse gas emissions.
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About 70% of the emissions were from vented or combusted CO2, while the remaining 30% was from methane releases, the IEA said. The study analyzed emissions from production through the supply chain to regasification. It didn’t consider combustion by end users. The agency has previously said that on average coal is twice as polluting as gas in power generation.
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If the proposal was implemented globally, it would add about $1 per million British thermal units to the delivered cost of LNG from existing LNG facilities, the agency estimated.
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