After years of negotiations, the province announced that it had reached a preliminary agreement with the federal government that it calls a “major step toward providing Alberta’s oil and gas industry a single set of strong rules to reduce methane emissions and protect the environment.”
The Alberta government said the process to “stand down federal regulations” can start, which will allow the province to “build on an already excellent history of reducing emissions utilizing local expertise.”
“[It] confirms Alberta’s regulatory framework will achieve the same emissions reductions as the federal regulation by 2025,” the province said in a news release.
“Further, the provincial approach is expected to exceed the reductions of the federal regulation by 2030. The flexibility and innovation allowed in Alberta’s regulatory framework [mean the] industry can achieve emissions reductions in a more cost-effective manner and with more certainty around the regulatory process.”
The province said methane’s environmental impact is 25 times greater than carbon dioxide over a 100-year period.
“In 2014, the baseline year to measure reductions, an estimated 31.4 megatonnes carbon dioxide equivalent of methane was emitted from Alberta’s upstream oil and gas sector,” the government said.
“The Alberta approach is expected to reduce methane emissions by 45% from 2014 levels by 2025.”
This deal will undergo a review process and is subject to approval by the federal cabinet.