Project description

As a significant player in the fossil fuel market, South Korea can leverage its influence by introducing a methane import standard, which could enhance the adoption of methane emission mitigation solutions in exporting countries, similar to the regulation recently adopted in the EU. Carbon Limits conducted a comprehensive analysis of the methane import standard landscape, outlining opportunities for introducing such a standard in South Korea. The study reviewed the methane intensity of oil and gas production of South Korea's major exporters and assessed the impact of different approaches to implementing the methane import standard on abatement potential and associated producer costs. The report is expected to facilitate discussions on designing a methane import standard tailored to South Korea's context.