Based on previous work, highly performing combustion catalyst consisting of an iron doped nickel-cobalt-based perovskite supported on commercial fiber blankets has been developed. The catalyst is particularly suitable for use in combustion of lean natural gas mixtures. With 12-15 wt% perovskite loadings the catalyst exhibits activities comparable to those of commercial fiber-supported platinum. At temperatures below 1000 K the catalyst activity seems stable, and resistant to low levels of mercaptan used as an odorant. Unlike platinum (or palladium) the catalyst promotes deep methane oxidation, i.e. no carbon monoxide formation, even in methane-rich mixtures. The combustion is inhibited by carbon dioxide, but water has no measurable influence. A simple kinetic model which takes the inhibition effect of carbon dioxide into account and permits more realistic conversion estimates is proposed: r(CO2) = k(CH4)P(CH4)/(1 + k(CO2)P(CO2))