- Methane operations released over 120 million tonnes of methane in 2024, far exceeding official reports.
- Satellite data exposed record leaks and significant gaps in country-level reporting.
- IEA says 70% of emissions can be avoided with current technology and urges immediate action.
The International Energy Agency (IEA) said on Tuesday, May 6, that methane emissions from fossil fuel operations remained high in 2024 despite the growing use of satellite detection tools.
In its latest Global Methane Tracker, the IEA reported that fossil fuel companies released over 120 million tonnes of methane last year, far exceeding official government reports.
The IEA linked the increase to record oil, gas, and coal production levels. Even with improved monitoring tools, operators failed to take meaningful action to cut leaks.
Satellites have detected many major leaks at fossil fuel sites and captured a record number of large-scale methane events in 2024.
More than 25 satellites currently provide methane data. These tools boosted transparency and revealed significant gaps between observed leaks and what countries report.
The IEA also highlighted emissions from old fossil fuel infrastructure. Abandoned wells and coal mines emitted roughly 8 million tonnes of methane last year, making these unused sites the fourth-largest fossil methane source worldwide.
The IEA believes current technologies can prevent nearly 70% of methane leaks from the energy sector. If companies had fully used these tools, they could have supplied 100 billion cubic metres of extra gas in 2024, equal to Norway’s yearly gas exports.
The IEA also flagged excessive gas flaring. Companies burned off about 150 billion cubic metres of gas last year, much of it unnecessarily.
The agency argued that companies could recover the cost of capturing methane in less than a year by selling the saved gas. “There is a strong economic reason to act now,” said IEA Executive Director Fatih Birol.
The report exposed significant performance gaps. Some oil and gas operators have limited methane emissions up to 100 times better than others.
Although 80% of global oil and gas production falls under methane reduction pledges, only 5% of operations have reached near-zero levels. The IEA urged countries and companies to move beyond promises and take real action.
Birol called on energy leaders to adopt proven methods immediately. “The tools are available. Now is the time to act,” he said.
The IEA recommended that operators share best practices and available technologies to close the performance gap across the industry.
Methane remains one of the most dangerous greenhouse gases. Over a 20-year period, it traps over 80 times more heat than carbon dioxide.
The IEA emphasised that cutting methane offers the fastest way to slow global warming in the short term.
The agency warned that companies and governments must act now. Without urgent action, the world risks missing climate targets despite having the tools to prevent this crisis.