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Tunable laser spectroscopy (TLS) with infrared (IR) imaging is a powerful tool for gas leak detection. This study focuses on direct absorption spectroscopy (DAS) that utilizes wavelength modulation to extract gas information. A tunable interband cascade laser (ICL) with an optical power of 5 mW is periodically modulated by a sawtooth injection current at 10 Hz across the methane absorption around 3271 nm. A fast and sensitive thermal imaging camera for the mid-infrared range between 3 and 5.7 µm is operated at a frame rate of 470 Hz. Offline processing of image stacks is performed using different algorithms (DAS-F, DAS-f and DAS-2f) based on the Lambert–Beer law and the HITRAN database. These algorithms analyze various features of gas absorption, such as area (F), peak (f) and second derivative (2f) of the absorbance. The methane concentration in ppm*m is determined on a pixel-by-pixel analysis without calibration. Leak localization for methane leak rates as low as 0.25 mL/min is accurately displayed in a single concentration image with pixelwise sensitivities of approximately 1 ppm*m in a laboratory environment. Concentration image sequences represent the spatiotemporal dynamics of a gas plume with high contrast. The DAS-2f concept demonstrates promising characteristics, including accuracy, precision, 1/f noise rejection, simplicity and computational efficiency, expanding the applications of DAS.