In collaboration with the ASEAN Centre for Energy and ASEAN Council on Petroleum (ASCOPE), GFMR’s Methane Management Roadmap for Oil and Gas in ASEAN presents a methane emissions baseline for the region and includes strategies for reducing emissions across the member states. The roadmap emphasizes four key areas:
- establishing methane intensity targets,
- improved monitoring,
- standardized reporting,
- certification programs, and
- cost-effective abatement strategies.
The roadmap also revealed that over 80 percent of methane abatement projects in the region could be done at net negative cost, and the estimated total of 320,000 tons of methane emitted in the region equate to about US$87 million a year in lost revenue, underscoring the economic opportunities methane abatement provides.
The ASEAN region’s substantial methane emissions not only represent a significant environmental challenge but also a waste of a valuable natural resource that should be used for productive purposes, which would generate more revenue and also enhance regional energy security. The roadmap emphasizes the importance of mitigating methane emissions due to their excessive global warming potential, presenting a high-value, relatively low-cost opportunity to address climate change.
The roadmap builds on the momentum from global initiatives, such as the Global Methane Pledge (GMP) and the Oil and Gas Decarbonization Charter (OGDC). It highlights the benefits of regional cooperation and of establishing a regional methane intensity target. According to the report, an intensity target would position ASEAN as a global leader on methane management, enhance regional cooperation, and attract international support and investment on methane reduction efforts.
The report highlights the progress made by key oil and gas-producing countries like Indonesia, Malaysia, and Thailand. It also stresses the need for improved regional stakeholder coordination and the establishment of clear incentives for flaring and methane abatement and reporting.
Alongside and supporting the roadmap, the ASEAN Oil and Gas Methane Emissions Dashboard published in 2024 serves as a valuable benchmark and tool in this effort, aiding in better management of the region’s natural resources and boosting energy security and economic development.