I Regional Summit of Methane

The gathering that paved the way for coordinated regional action to reduce methane emissions in Latin America and the Caribbean.

Bogota, Colombia

August 24, 2024

Resumen

I Regional Summit of Methane: Building Consensus to Reduce Emissions in the Oil and Gas Sector

Held in August 2024 in Bogotá, the 1st Regional Summit of Methane of Latin America and the Caribbean marked a turning point in the region’s efforts to address one of climate change’s most urgent challenges: the reduction of methane emissions in the oil and gas sector.

The Summit convened key stakeholders fundamental to the energy transition and the decarbonization of our economies, including governments, international bodies and observatories, industry associations, NGOs, and academic institutions.

The event underscored that meeting international decarbonization commitments and navigating the challenges of the energy transition is essential for all stakeholders across the value chain to advance in a coordinated manner toward emissions reduction.

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"The gap analysis on the maturity of greenhouse gas emission inventories in the oil and gas sector highlights the need to strengthen technical capacity and improve data quality across the region."
Andrés Rebolledo
Andrés RebolledoExecutive Secretary of OLACDE
"Each country must internally build consensus on a long-term State policy, immune to electoral and ideological fluctuations, and manage the trilemma between energy security, environmental stewardship, and universal access to energy."
Carlos A. Garibaldi
Carlos A. GaribaldiExecutive Secretary of ARPEL
"Voluntary efforts will never end up closing the gap. There must be a legal requirement. We need policies that mandate companies to implement measurement technologies. Only through policies will we see actions truly take root. We have had great success developing methane import regulations. That will have a massive global and regional impact. To sell to Europe, adherence to methane standards regarding reporting and emissions will be required."
Jonathan Banks
Jonathan BanksGlobal Director of the Methane Pollution Prevention Program of CATF
"We estimate that out of the 8 million tons of methane emitted in Latin America by the oil and gas sector, 40% could be reduced at net-zero cost. The captured gas could be sold, and the revenues would exceed the cost of the investments."
Alejandra Bernal-Guzman
Alejandra Bernal-GuzmanLatin America Programme Officer of the IEA
"Although all countries have received financing through the GEF to develop inventories, the lack of long-related resources remains a significant barrier."
Alejandra Garzón Sánchez
Alejandra Garzón SánchezTechnical Specialist

Results of the I Summit

First Regional Methane Event:

Through OEMLAC, OLACDE achieved a regional milestone by addressing one of climate change's most pressing challenges: the reduction of methane emissions within the oil and gas sector.

Strategic Alliance with ARPEL

Formalized through a cooperation agreement, this partnership integrates ARPEL as a strategic partner of OEMLAC, enabling joint projects, studies, events, and capacity-building initiatives.

I Regional Summit of Methane

Relive the region's premier methane gathering

The I Regional Summit of Methane took the initial step toward more coordinated regional action to mitigate emissions in Latin America and the Caribbean, consolidating shared priorities and paving the way for effective responses to the climate crisis.
Watch the sessions