But flaring releases carbon dioxide, and
while that is less potent than methane, it
lasts longer in the atmosphere.
Widespread flaring in the Permian Basin
and other oil fields has been an ongoing
problem. Gas flaring activity in the U.S.
increased 48% from 2017 to 2018, reaching
1.4 billion cubic feet per day, which is
roughly the same amount as the total gas
consumption of a medium-sized European
country such as Belgium or Romania,
according to the World Bank. The surge in
flaring happened as natural gas prices fell
so low, and pipeline capacity was so
constrained, that some producers were
paying to have it carted away instead of
selling it.
Exxon released its methane document as
regulators in the European Union, Nigeria,
Argentina, New Mexico and elsewhere are
writing methane policies.
The European Union is a major natural gas
importer, giving it leverage to demand much
cleaner natural gas, Ratner said. For example,
the EU could say that it will only import
natural gas with a methane intensity — which
measures the amount of methane emissions
compared to the total amount of natural gas
produced — of 0.2% or lower, Ratner said.
Exxon was also responsible for a major
methane leak in February 2018 from a
blowout at a gas well in Ohio. The methane
released during the incident was reported to
all regulatory agencies, a spokesman said.