- Korea to participate in MMRV framework as one of 13 founding members 2023-11-17
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 16 that Korea will participate in the measurement, monitoring, reporting, and verification framework (MMRV Framework) as one of the 13 founding members along with the U.S., EU, Japan, and Australia in order to create an objective system for measuring methane emissions across the natural gas supply chain.
Methane (CH4), the main component of natural gas at around 80%, is known as the second cause of global warming after carbon dioxide (CO2). Methane emissions come from various levels such as the mining, production, and transportation of natural gas and oil, but an issue has been raised that it is difficult to accurately measure methane emissions because of the absence of internationally agreed measuring standards.
The MMRV framework is a process of addressing standard methods of measuring, monitoring, reporting, and verifying greenhouse gas emissions from the natural gas supply chain. Major producers of natural gas such as the U.S. and Australia and main consumers of natural gas including Korea and Japan will participate in the discussions. MMRV Framework Working Group plans to address objective measurement standards that each of the countries or individual businesses can use, ensure technological neutrality in consideration of various methane measurement technologies, and establish a system of cooperation between the public and private sectors. As a consumer of natural gas, Korea also plans to fully participate in the process of establishing international standards for measuring methane emissions through communication with the private sector.
The MMRV Framework Working Group for developing international methane measurement standards will continue the technical discussions in 2024 and recommend voluntary use of the procedures and methodologies that will be prepared as a result of the discussions in the natural gas market. MOTIE plans to share the MMRV Working Group discussion results for international methane measurement standards with related industries in Korea and further its efforts to manage and reduce unnecessary methane emissions from the LNG pipeline network.