First Regional Summit of Methane: building consensus to cut oil and gas emissions
The first Summit held in August 2024 in Bogotá, represented a turning point in the region’s efforts to address one of the most urgent challenges of climate change: reducing methane emissions in the oil and gas sector.
It brought together key stakeholders for the energy transition and the decarbonization of our economies, including governments, companies and international observatories, business associations, civil society organizations, and academic institutions.
The meeting underscored that advancing international decarbonization commitments and responding to the challenges of the energy transition requires the participation of all actors across the value chain, fostering coordinated action to reduce these emissions.
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"Latin America leads methane mitigation
not by political stance, but by economic
benefits, solid principles and confidence
in free trade as a way of climate action."
“Natural gas accounts for 30% and oil for 32% of the region’s primary energy, and together they represent 30% of the energy sector’s greenhouse gas emissions in the region. Methane is of great interest to countries in the region due to the cost opportunity represented by its utilization, its contribution to diversifying energy mixes, and increasing regional climate ambition.”
“Among the most relevant challenges, I would highlight institutional and regulatory fragmentation: while many initiatives are underway, there is still a lack of harmonized regulatory frameworks across countries.”
“Developing reliable measurement tools is essential to accurately understand real-world impact, manage it effectively, and, based on that information, design effective public policies. It is not about questioning the validity of current methods, but about recognizing that technology is advancing rapidly and that multiple organizations are focused on improving them.”
“Here we have a unique opportunity in the environmental arena: to do something that benefits everyone and does not divide us politically, something that is practically impossible to find in Latin America, and that will also be necessary from an economic standpoint, because regulations in Europe and other countries already require certain behaviors regarding methane emissions.”
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Key outcomes of the I Edition
Strategic Partnership with ARPEL
This partnership was formalized through a cooperation agreement that brings ARPEL on board as OEMLAC’s strategic partner and enables joint projects, studies, events, and training activities.
First Regional Event on Methane
Through OEMLAC, OLACDE achieved a major regional step forward by addressing one of the most urgent challenges of climate change: reducing methane emissions in the oil and gas sector.
I Regional Summit of Methane
Revisiting Latin America and the Caribbean’s first regional summit of Methane
The I Summit took the first step toward more coordinated regional action to reduce emissions in Latin America and the Caribbean, consolidating shared priorities and paving the way for effective responses to the climate crisis.
