The US Department of Energy’s (DOE) Loan Programs Office (LPO) has approved a USD189m loan to support the establishment of a methane monitoring network in major oil-producing basins, as reported by Reuters on January 6. This conditional loan is allocated to LongPath Technologies, a private company specializing in emissions detection and quantification technology services. The firm will use the loan to deploy its Emissions Overwatch System across 24,000 square miles (62,160 square kilometers) in several states. Equipped with large-area remote methane monitors, the network will provide tens of thousands of oil and gas sites with emissions detection, location, and quantification services. By enabling operators to quickly identify and respond to methane leaks, the network is expected to prevent methane emissions equivalent to at least 6 million tons of carbon dioxide (CO2) annually.

Leaks during oil and gas production and compression are a major source of US methane emissions. Typical methane leak detection tools, such as sensors attached to helicopters and optical gas imaging (OGI) cameras, can leave major gaps in emissions monitoring over time and space. In comparison, LongPath’s technology features continuous monitoring that enables operators to mitigate leaks earlier and more often, potentially reducing greenhouse gas emissions leaks by roughly 90% compared to the existing OGI technologies. The loan marks the Biden administration’s ongoing efforts to curb methane emissions. Last month, the Environmental Protection Agency (EPA) introduced regulations that would ban routine flaring of natural gas produced by newly drilled oil wells. Additionally, the EPA also unveiled a plan to detect large methane releases from “super emitters” using third-party remote sensing.

S****ources:

https://www.reuters.com/business/energy/us-approves-189-million-loan-real-time-methane-oil-monitoring-2024-01-05/

https://www.energy.gov/lpo/articles/lpo-announces-conditional-commitment-longpath-emissions-technology-support-methane

https://www.bloomberg.com/news/articles/2024-01-05/biden-backs-189-million-loan-to-spot-methane-leaks-with-lasers?srnd=green

https://corporate.exxonmobil.com/what-we-do/delivering-industrial-solutions/methane/lidar-methane-leak-detection