Japan and South Korea Plan to Expand Initiative for Methane Emission Cuts

The Japanese government announced on Sunday its decision to enhance the cooperation framework with South Korea, aimed at reducing methane emissions from natural gas development projects. This initiative, reported by several media reports, will see 22 Japanese companies, including prominent firms such as Kansai Electric Power, Tokyo Gas, and the trading company Mitsubishi, joining the effort.

The announcement was made during a meeting of liquefied natural gas (LNG) producing and consuming countries held in Hiroshima. Member companies involved in procurement will work to confirm the steps taken by natural gas production firms to mitigate methane emissions, urging them to disclose relevant information on their efforts. Some companies have already consented to share this data, recognizing the need for transparency in addressing methane leaks.

Methane is a potent greenhouse gas, with its heat-trapping effect believed to be more than 20 times greater than that of carbon dioxide. Leaks from gas fields represent a significant environmental challenge that must be addressed effectively. The framework for cooperation was originally established at last year's meeting of LNG-producing and consuming nations, initiated by Jera—a joint venture between the Tokyo Electric Power Company Holdings group, Chubu Electric Power, and Korea Gas (KOGAS).

Together, Jera, KOGAS, and the newly added 22 member companies manage approximately 100 million tons of LNG annually, accounting for roughly 25% of the total global LNG distribution. The framework will also include an annual report detailing the amount of methane emissions from production facilities, enhancing accountability and encouraging further reductions.

During the same meeting, the Japan Organization for Metals and Energy Security (JOGMEC), backed by the government, signed a memorandum of cooperation with major Italian energy company ENI. This agreement aims to diversify LNG procurement sources, reflecting Japan's commitment to ensuring stable energy supplies amid fluctuating global markets. Additionally, the Japanese and Italian governments are expected to finalize a memorandum of cooperation focused on securing stable LNG supplies.

In a further collaborative effort, Japan and South Korea have agreed to conduct a pilot test aimed at enhancing LNG-related cooperation between the private sectors of both countries. This initiative underscores the importance of international collaboration in addressing climate change challenges, particularly in the context of energy production and consumption.

The expanded cooperation framework represents a significant step forward in Japan and South Korea's commitment to tackling methane emissions, promoting sustainable practices in natural gas development, and enhancing energy security through diversified procurement strategies. As both countries work together to address these pressing environmental issues, their partnership could serve as a model for other nations facing similar challenges in the energy sector.