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

24 August 2024

Summary

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

The first Regional Summit  of Methane for Latin America and the Caribbean, held in Bogotá in August 2024, marked a turning point in the region’s efforts to address one of the most pressing climate challenges: reducing methane emissions from the oil and gas sector.

It brought together stakeholders playing a key role in the energy transition and the decarbonization of our economies: governments, companies, international observatories, business chambers, non-governmental organizations and academic institutions.

The Summit underscored that addressing international decarbonization commitments and the challenges of the energy transition is essential for all stakeholders across the value chain, in order to advance coordinated action to reduce these emissions.

Companies
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Speakers and Moderators
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Non-governmental Organizations
Delegations from OLACDE Member Countries
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Panels and Keynote Sessions
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Business Chambers and Associations
Streaming Views
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In-person Attendees
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National Governments
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“The gap analysis of 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, OLACDE
“Each country must build domestic consensus around a long-term State policy, resilient to electoral and ideological cycles, and manage the trilemma of energy security, environmental stewardship and universal access to energy.”
Carlos A. Garibaldi
Carlos A. GaribaldiExecutive Secretary, ARPEL
“Voluntary efforts alone will not close the gap. Legal requirements are needed. We need policies that require companies to implement measurement technologies. Only through policy will action become embedded. We have achieved significant progress in developing methane import regulations, which will have a substantial global and regional impact. To sell to Europe, companies will need to comply with methane-related reporting and emissions standards.”
Jonathan Banks
Jonathan BanksGlobal Director, Methane Pollution Prevention Program, CATF
“We estimate that, of the 8 million tonnes of methane emitted by the oil and gas sector in Latin America, 40% could be reduced at net-zero cost. The captured gas could be sold, and the resulting revenues would exceed investment costs.”
Alejandra Bernal-Guzman
Alejandra Bernal-GuzmanLatin America Programme Officer, IEA
“Although all countries have received GEF funding to develop inventories, insufficient long-term resources remain a significant barrier.”
Alejandra Garzón Sánchez
Alejandra Garzón SánchezOEMLAC Technical Specialist

Outcomes of The I Summit

First Regional Event on Methane

Through OEMLAC, OLACDE achieved an important regional milestone by addressing one of the most pressing climate challenges: reducing methane emissions in the oil and gas sector.

Strategic Partnership with ARPEL

This partnership was formalized through a cooperation agreement, establishing ARPEL as a strategic partner of OEMLAC and enabling joint projects, studies, events and capacity-building activities.

I Regional Summit of Methane

Review the I Regional Summit of Methane

The Regional Summit of Methane marked the first step towards 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.
Watch the Sessions