Biomethane has become a crucial component of global energy and climate policies due to energy security concerns, the urgency to address climate change and a focus on methane emissions reduction, according to a new report released by CEDIGAZ.
The report, entitled ‘Global Biomethane Market 2023 Assessment’, reveals that the global biomethane industry experienced a 23% growth in 2022, with production increasing from six billion cubic metres (bcm) in 2021 to 7.4 bcm in 2022.
Driven by concerns over energy security following Russia’s invasion of Ukraine last year and emissions reduction measures, the market has the potential to surpass 100 bcm by 2030 if appropriate policies and regulations are implemented, says CEDIGAZ.
Investment into the market has already been stimulated following the introduction of new incentivising policies such as the REPowerEU plan in Europe, the Inflation Reduction Act (IRA) in the US, the Metano Zero plan in Brazil and the GOBAR-Dhan scheme in India.
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