Representatives from the U.S.A., Argentina, Australia, Brazil, China, Colombia, India, Italy, Japan, Mexico, Nigeria, Russia, Ukraine, and the United Kingdom signed a Terms of Reference on November 16, formally creating the Methane to Markets Partnership.
This new global initiative serves to advance international cooperation on the recovery and use of methane as a valuable clean energy source. Methane to Markets has the potential to reduce net methane emissions by up to 50 million metric tons of carbon equivalent annually by 2015 and continue at that level or higher in the future. This would be the carbon equivalent of removing 33 million cars from roadways for one year or eliminating emissions from 50 500-megawatt coal-fired power plants.
“The Bush Administration welcomes this global partnership, a partnership that we believe will deliver significant economic, environmental, and energy benefits,” said Environmental Protection Agency (EPA) administrator Mike Leavitt.
“Together we will harness the power of collaboration, technology and markets to achieve real, near-term reductions of global methane emissions.”
EPA said the partnership will increase energy security, enhance economic growth, improve air quality, improve industrial safety, and reduce greenhouse gas emissions throughout the world.
Countries participating in the Methane to Markets Partnership are expected to undertake activities aimed at capturing and using methane emitted from landfills, coal mines, and oil and gas systems. It is anticipated that developed countries will work with developing countries in undertaking these efforts. The Methane to Markets Partnership will also encourage active involvement by private industry, financial institutions and other non-governmental organizations.
The United States will commit up to US$53 million over the next five years to facilitate the development and implementation of methane projects in developing countries and countries with economies in transition. EPA will play a lead role in the partnership and coordinate efforts with several other departments including the Department of State, Department of Energy, the US Trade and Development Agency and the US Agency for International Development.
