For Canadian oil & gas companies, long-term success depends on how well they can adapt to an ever-evolving operating environment. As the largest source of greenhouse gas emissions in Canada—accounting for 26% of the country’s total emissions—the oil & gas sector will play a critical role in Canada’s low-carbon transition. The industry also stands to benefit from recent policy shifts and technological innovations.
The Emissions Reduction Plan (ERP) unveiled in March sent a clear signal to Canadian oil & gas operators that it was time to embrace change. Last year, the government set a goal to reduce methane emissions from the oil & gas sector by at least 75% below 2012 levels by 2030 and cut carbon emissions 31% below 2005 levels by 2030. Additionally, Minister of Natural Resources Jonathan Wilkinson recently announced plans for a policy to increase the country’s carbon price from $50 per tonne to $170 per tonne by 2030. This is a huge opportunity for the industry to develop new, innovative, and sustainable solutions to help Canada reach these ambitious targets.
Technology to the front of the line
In order to reach these targets, the oil & gas sector must embrace new technological solutions to improve understandings of emissions sources, reduce costs and drive best practices in methane detection and management. Enter the Alberta Methane Emissions Program (AMEP), a funding program that provides the key building blocks to incentivize and support collaborative emissions mitigation programs. The $17 million, three-year program was unveiled last year to provide funding for the three key components of Alternative Fugitive Emissions Management Program proposals (Alt-FEMPs), data management and analytics, and new technology trials.
This program is a game-changer for the sector—it will improve the accuracy of collection and evaluation of high-quality data by using alternative testing methods. With a clearer understanding of fugitive and vented methane emissions, Albertan operators will have the power to manage their emissions and lead the sector towards its ambitious climate goals. Additionally, operators will have the tools to meet the standards for flaring, incinerating, and venting methane in Alberta as stipulated in Directive 60.
Precision Accuracy with the Measurement Economy
Alberta’s oil & gas operators have an incredible chance to lead the sector’s shift to a low-carbon future with the help of AMEP funding support. By forming strategic partnerships with tech leaders, companies can jump to the front of the pack while positioning themselves to thrive in the face of upcoming legislation like Canada’s proposed methane emission standards. With LDAR technologies, companies can stay ahead of the curve and prepare for the future. And with the Canadian government recently announcing at COP27 proposed legislation that includes a monthly requirement for oil & gas companies to find and fix methane leaks in their infrastructure, companies that are actively developing and utilizing Leak Detection and Repair (LDAR) technologies will be best positioned to adapt to a changing regulatory environment moving forward.
As a leader in methane leak detection, we are excited to share our technological expertise with Canadian oil & gas firms and offer market-based solutions to reduce emissions. Our high-fidelity remote sensing technology can detect even the smallest methane leaks down to the part per billion. Moreover, our powerful technology combines IoT devices with a user-friendly dashboard to report any leaks every 60 seconds. This precision accuracy in real-time is a sustainability game-changer for a sector that has long struggled with an image problem as a high-emitting industry.
Analyzing and quantifying environmental risks is our specialty, but we’re also venturing into the exciting world of Carbon Capture Storage (CCS) with our rigorous third-party engineering-based environmental risk assessments and our digital Measurement Reporting and Verification (MRV) platform. Canada’s investing in CCS too. The government just announced a CCUS investment tax credit.
Canada is poised to cement its position as a global climate leader through the support and policy initiatives offered by AMEP. The infrastructure is in place to drive the adoption of innovative technologies for methane leak detection, accurate data collection, and radical transparency.