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Tuesday, June 7, 2016

New Study Finds Costs of EPA Methane Regulations Would be Much Higher Than Agency Estimates

From One Future:
A new independent assessment of methane abatement costs by ICF International concluded that the cost to reduce methane emissions from natural gas systems is $3.35/Mcf of methane reduced, nearly five times greater than previous estimates suggest. 
This analysis, commissioned by ONE Future – a coalition of natural gas companies focused on reducing methane emissions – is based on a MAC curve model developed by ICF for the Environmental Defense Fund (EDF) study in 2014. ICF, in this new analysis, evaluates the economics of methane recovery at a natural gas price of $3.00/Mcf. It also uses data from EPA’s 2012 emissions inventory as well as updated cost and emission reduction data that was based on direct experience of ONE Future member companies. 
“This new study provides cost estimates of methane abatement technologies that are more consistent with current market realities,” said ONE Future interim executive director Richard Hyde. “These findings will assist ONE Future member companies in our shared efforts to reduce methane emissions to less than one percent of total natural gas production.” 
Importantly, this analysis updates the list of known emission abatement technologies and provides revised costs estimates for each one. It also provides estimates of the total methane emission abatement potential associated with the various segments of the natural gas industry. At its core, the study incorporates new information on the cost of methane control technologies and practices and the ability of industry to monetize recovered gas.
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