Recently, the U.S. Environmental Protection Agency (EPA) said it will impose a fee on methane emissions from large oil and natural gas producers as required by the 2022 Climate Act. The EPA said the methane emission fee rules apply to large oil and gas facilities that report methane emissions exceeding 25,000 tons of carbon dioxide equivalent each year.
The EPA said that under the Inflation Reduction Act, the fee for emissions exceeding the specified level will be US$900 per ton in 2024, increase to US$1200 per ton in 2025, and increase to US$1500 per ton in 2026 and beyond. The EPA said the proposal, once finalized, would support supporting technical standards and provisions in the Inflation Reduction Act to encourage industry innovation and rapid action. As future emissions are reduced and compliance exemptions are available, the number of facilities facing this fee will gradually decrease. Source: China Chemical News