The U.S. Environmental Protection Agency, the Department of Energy and its National Energy Technology Laboratory announced up to $350 million in formula grant funding to help states monitor and reduce methane emissions, one of the biggest drivers of climate change, from the oil and gas sector and for environmental restoration of well sites.
The funding will also help oil and gas well owners, as well as operators of applicable facilities, voluntarily and permanently reduce methane emissions from leaks and daily operations of low-producing conventional wells on non-federal lands.
Through the Methane Emissions Reduction Program, EPA and DOE will help reduce inefficiencies of U.S. oil and gas operations, create new jobs in energy communities, and realize near-term emission reductions – helping reach the nation’s ambitious climate and clean air goals.
This action is the first in a series of funding opportunities through the Inflation Reduction Act that will target monitoring and reduction of methane emissions from the oil and gas sector.
The U.S. Environmental Protection Agency said it, along with EPA and DOE, plans to announce competitive funding opportunities following this non-competitive solicitation and have partnered to offer technical assistance to help industry monitor and reduce methane emissions from leaks and daily operations.
This combination of technical and financial assistance is expected to help improve efficiency of U.S. oil and gas operations and provide new economic opportunities in energy communities, as well as realize near-term emission reductions.
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