Gas flaring is a significant source of economic and environmental waste. By reducing flaring, oil & gas companies can capture additional revenues and decarbonise operations. However, the decarbonisation potential is significantly underestimated due to invisible methane emissions from incomplete combustion. This paper explores how our industry can materially reduce flaring.
Gas flaring is increasingly recognised as a major source of economic and environmental waste. Flaring, which sits alongside “venting” and “leaking”, leads globally to the annual loss of at least $30 billion of valuable product, plus generates 1.2 billion CO2-equivalent tonnes of greenhouse gas emissions – that’s 1.5 times those of airlines. However, little-discussed so […]
By reducing gas flaring, we can reduce emissions, create value and accelerate the energy transition. COP26 can help us to accelerate flaring reduction.
by Christian Schaudwet, published on 25/08/2021. Translated from original German to English. Original piece found on the Tagesspiegel website here. We are grateful to the author for allowing us to republish the work. Hundreds of billions of cubic metres of gas are burned each year because they stand in the way of oil production and processing. A British […]
Gas consumption is growing due to its perceived lower GHG emissions, and LNG is growing even faster. As the consumer preferences and legislation focusses attention on emissions, companies are increasingly marketing “carbon-neutral” LNG with offsets from carbon credits. However, several lines of thought are increasingly challenging the credentials of the “carbon neutral” claims. This uses […]
Algeria has long been a major gas flarer but time may be running out for the practice as the EU moves to enforce its carbon border adjustment mechanism. This article was authored by Ajay Ubhi and was originally published in issue 441 of African Energy and has been reproduced here with permission. The original article […]
Executive summary Flaring is a critical metric that many ESG-focussed groups (e.g. regulators, investors, ratings agencies, lenders, consumers and governments) are increasingly seeking to understand. Some of these groups are facing particular urgency to finalise their sustainability accountability frameworks before COP26. We reviewed the corporate reporting on gas flaring from 13 leading oil and gas […]
Executive Summary The latest flaring data, published yesterday by the World Bank, shows some positive movement – a 5.2% drop in gas flaring. However, this is way off-track to deliver the 90% reduction we need (according to the IEA) by 2025. More concerningly, the lower flaring in 2020 is a “blip”, due only to lower […]
Executive summary Gas flaring is a major source of economic and environmental waste, and the world is not yet “on track” to reach zero flaring by 2030. But with COP26 coming up (and the global focus on the energy transition), the moment for action to reduce flaring is now. Flaring is frequently avoidable, using proven […]
Capterio published a letter in response to Leslie Hook’s concerning article reports that methane levels in the atmosphere surged in 2020 – the biggest increase since records began. The sources of methane emissions are well-documented: biological sources, such as wetlands; agriculture and ruminants, particularly belching cows; and extraction and processing emissions from fossil fuels, especially […]