By Africa Bazaar Staff Writer | ENERGY MARKETS
The International Energy Agency convened ambassadors from across Africa, the Americas, Asia-Pacific, Europe and the Middle East this week to assess the energy market fallout from the escalating conflict in the Middle East, as policymakers grapple with what the agency described as the largest energy crisis in history.
The meeting came days after the Paris-based agency released a new report warning that global methane emissions linked to the energy sector showed no meaningful decline in 2025 despite a wave of national pledges and corporate commitments aimed at curbing the potent greenhouse gas.
According to the IEA’s Global Methane Tracker 2026, methane emissions from fossil fuel operations remained near record highs last year, underscoring what the agency called a widening gap between climate targets and implementation. The report, released Monday ahead of a high-level methane summit convened by France under its G7 presidency, drew on satellite monitoring data and emissions measurement campaigns to map the scale of methane leakage across global oil, gas and coal systems.
While some countries have moved to tighten regulations, the IEA said progress has been uneven. Emerging economies including Nigeria, Ghana and Brazil have either adopted methane reduction policies or are in the process of implementing them as part of broader energy transition and emissions management strategies.
The report found that more than half of global oil and gas production is now covered by methane reduction commitments. Yet overall emissions from the sector plateaued in 2025 rather than declining. Roughly 70 precent of fossil fuel-related methane emissions originated from just 10 countries, according to the agency’s estimates.
The IEA said the geopolitical crisis in the Middle East has sharpened the energy security case for methane abatement. The near-closure of the Strait of Hormuz has effectively disrupted close to 20 percent of global liquefied natural gas supply, intensifying pressure on governments to secure additional fuel sources.
The agency estimated that rapid deployment of existing methane reduction measures across major gas-producing and importing nations could make nearly 15 billion cubic meters of gas available to markets in the short term. Longer term, global methane mitigation efforts in oil and gas systems could unlock nearly 100 billion cubic meters annually, with the elimination of non-emergency flaring potentially adding another 100 billion cubic meters. Combined, those volumes would exceed the gas supply losses linked to the disruption around Hormuz.
“In recent years, countries and companies have raised their ambitions on methane, moving the issue higher up the policy agenda,” said Tim Gould, who presented the findings at the G7-related methane summit in Paris. “However, setting reduction targets is only a first step, and it is important to ensure they are backed up by policies, implementation plans and real actions.”
The IEA estimates that around 70 percent of methane emissions from fossil fuels could be reduced using existing technologies, including three-quarters of emissions from oil and gas operations. More than 35 million tons of emissions could be avoided at no net cost based on average 2025 energy prices, the report said.
Canada and the European Union recently introduced stricter upstream methane regulations, while countries including Brazil, and Kazakhstan are also developing similar frameworks. The agency also highlighted the growing role of satellite monitoring systems and emissions-alert technologies in identifying large methane leaks in real time.
Alongside the report, the IEA and the International Methane Emissions Observatory launched a new response framework designed to help governments react more quickly to major emissions events.
