Methane abatement remains a challenge in aftertreatment systems of natural gas engines, currently under discussion in combination with synthetic methane. In this study, Pt/Rh and Pd/Rh-based three-way catalysts are investigated under various transient conditions because transients between O-2 excess (lean) and O-2-poor (rich) conditions can significantly enhance methane abatement. At mid to high temperatures, transitions from rich to lean feed yield higher rates of methane direct oxidation under lean conditions with the Pt/Rh catalyst, compared to the Pd/Rh catalyst. Both catalysts are able to trigger methane steam reforming (SR) after transitions from lean to rich feed. The SR reaction leads to increased H-2 and NH3 formation. However, SR deactivates much faster in the Pt/Rh catalyst. At low temperature, the Pt/Rh catalyst is more active for SR. Results from an additional Pd-only catalyst confirm that Rh is essential for NOx conversion and high N-2 selectivity. The distinct characteristics of Pt, Pd and Rh demonstrate the benefits obtained from the combination of the three platinum group metals. The potential of the Pt/Pd/Rh catalyst is proved to be significant throughout the complete engine map. Under optimized lean/rich oscillatory conditions, the Pt/Pd/Rh catalyst yields more than 95% methane conversion under almost all conditions while maintaining efficient abatement of all other pollutants.