Regional Summit of Methane Latin America and the Caribbean

The use of fossil fuels in various economic sectors represents the largest source of Greenhouse Gas (GHG) emissions worldwide. Among these gases, methane (CH₄) stands out for its high global warming potential, 29.8 times higher than carbon dioxide (CO₂) if its reference permanence in the atmosphere after being emitted is 100 years, and up to 82.5 times higher if it is reduced to 20 years.

For Latin America and the Caribbean, the energy sector, particularly oil and gas, represents the main source of methane emissions. In light of the challenges of the energy transition and the decarbonization commitments of countries, the joint approach by all actors involved in the production chain is increasingly necessary to undertake efforts that promote both the strengthening of data collection, monitoring, reporting and information generation systems for decision-making, as well as the design of strategies, routes, and actions in favor of reducing methane emissions.

Therefore, within the framework of the launch of the Latin American and Caribbean Methane Emissions Observatory (OEMLAC) of the Latin American Energy Organization (OLADE), together with the Latin American Development Bank (CAF) and the Global Methane Hub (GMH), they have convened the Energy Ministries of the region, international financing organizations, state and private companies, chambers and associations of the oil and gas sector, NGOs, and academia, to the First Regional Methane Summit of Latin America and the Caribbean 2024, to be held next August 26 in the city of Bogota, Colombia.

During the event, the advances of OLADE’s OEMLAC as a fundamental tool for the region in the collection, analysis, and dissemination of data on methane emissions will be presented. Panels and conferences will also be held to understand the importance of having robust greenhouse gas inventories, including methane, as a basis for effective climate action, explore available financing opportunities for methane emissions reduction in the oil and gas sector, and discuss the role of oil and gas companies in decarbonization and the strategies they are implementing to reduce their methane emissions.

For more information please contact us at: oemlac@olade.org