WASHINGTON, DC, November 17, 2004 (ENS) – Mike Leavitt, administrator of the U.S. Environmental Protection Agency (EPA), joined representatives from Argentina, Australia, Brazil, China, Columbia, India, Italy, Japan, Mexico, Nigeria, Russia, Ukraine, and the United Kingdom Tuesday in signing a Terms of Reference formally creating the Methane to Markets Partnership.
The partnership is intended to advance international cooperation on the recovery and use of methane as a clean energy source.
"The Bush administration welcomes this global partnership, a partnership that we believe will deliver significant economic, environmental, and energy benefits," said Leavitt. "Together we will harness the power of collaboration, technology and markets to achieve real, near-term reductions of global methane emissions."
Countries participating in the partnership are expected to undertake activities aimed at capturing and using methane emitted from landfills, coal mines, and oil and gas systems. It is anticipated that developed countries will work with developing countries to accomplish these goals. The partnership encourages active involvement by private industry, financial institutions and other nongovernmental organizations.
The United States will commit up to $53 million over the next five years to facilitate the development and implementation of methane projects in developing countries and countries with economies in transition.
The EPA will play a lead role in the partnership and coordinate efforts with several other departments including the State Department, the Energy Department, the U.S. Trade and Development Agency and the U.S. Agency for International Development.
Methane is a clean burning fuel that is the main component of natural gas and is also the second most prevalent greenhouse gas from human sources. Methane remains in the atmosphere for approximately nine to 15 years and is over 20 times more effective in trapping heat in the atmosphere than carbon dioxide.
Methane to Markets has the potential to reduce net methane emissions by up to 50 million metric tons of carbon equivalent annually by 2015 and continue at that level or higher in the future. This would be the carbon equivalent of removing 33 million cars from roadways for one year or eliminating emissions from 50 500 megawatt coal fired power plants.
Leavitt says the partnership will increase energy security, enhance economic growth, improve air quality, improve industrial safety, and reduce greenhouse gas emissions throughout the world.
Copyright Environment News Service (ENS) 2004. All Rights Reserved.
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