PERTH (miningweekly.com) – Australia has signed the joint statement on Accelerating Methane Mitigation from the Liquefied Natural Gas (LNG) Value Chain, joining the US, Japan, the Republic of Korea and the European Union.

Minister for Resources and Northern Australia Madeleine King said given the agreement brought together some of the world’s biggest LNG producers and consumers, it had the potential to make a real difference in lowering emissions and fighting climate change.

“The Joint Statement commits Australia, Japan, the Republic of Korea, the US, and the EU to cooperate on work to lower emissions along the full LNG supply chain,” King said.

“The Australian government is steadfastly committed to lowering emissions and has legislated to cut emissions by 43% by 2030 on the path to net zero by 2050. The road to net zero runs through Australia’s resources sector, which will be instrumental in achieving our climate goals as well as those of our resource trade partners.

“Our key LNG trade partners in Asia have planned a key role for Australian LNG in their energy transitions. Gas peaking generation, fuelled by Australian LNG, is and will continue to provide important electricity grid firming as more renewables come online.

“As one of the world’s top LNG exporters, Australia looks forward to working with our partners in Japan, the Republic of Korea, the US and the EU to ensure LNG supply chains minimise methane emissions,” King said.

The participants will collaborate on reducing greenhouse gas (GHG) emissions, particularly methane, across LNG imports and exports, with the aim of reducing global anthropogenic methane emissions by at least 30% by 2030 from 2020 levels.

The participants affirmed their support for the creation of an internationally aligned voluntary approach for the measurement, monitoring, reporting and verification of GHG emissions across the international supply chain for natural gas. The signees also expressed their strong support for accelerated methane reduction in the LNG value chain by both public and private stakeholders and resolved to advance further methane reduction associated with LNG value chain.