In recent years, because of the importance of leak detection from carbon capture and storage facilities and the need to monitor methane seeps and undersea gas pipelines, there has been an increased requirement for methods of detecting bubbles released from the seabed into the water column. If undetected and uncorrected, such leaks can generate huge financial and environmental losses. This paper describes a theory by which the passive acoustic signals detected by a hydrophone array can be used to quantify gas leakage, providing a practical (as opposed to research), passive and remote detection system which can monitor over a period of years using simple instrumentation. The sensitivity in detecting and quantifying the flux of gas is shown to exceed by more than two orders of magnitude the sensitivity of the current model-based techniques used commercially for gas leaks from large, long pipelines.