T. Ramavarman
5 May 2010
ABU DHABI — The World Bank-led Global Gas Flaring Reduction partnership or GGFR and Masdar have teamed up to host a forum to explore and promote efforts that mitigate the impact of flaring massive quantities of natural gas from the hydrocarbon reserves across the world.
Gas flaring has significant economic and environmental implications, the experts at World Bank and Masdar, Abu Dhabi’s multifaceted renewable energy initiative said in a Press release on Tuesday. It is estimated that the amount of gas flared annually across the globe is more than the combined gas consumption of South America and Central America and this wastage of gas has enormous economic consequences.
Gas flaring — the process of burning-off associated gas from wells, hydrocarbon processing plants or refineries, either as a means of disposal or as a safety measure to relieve pressure — is also recognised as a major environmental problem; with estimates that it contributes some 400 million tons of CO2 emissions worldwide, which is equivalent to more than one per cent of global CO2 emissions, the release said.
The GGFR - Masdar hosted forum, the first to be held in the Middle East & North Africa, will bring together global oil and gas companies, technology and service providers, financiers and regional government agencies for an in-depth debate on all issues relating to gas flaring from mitigating its impact to understanding how Carbon Finance can make flaring reduction projects more economically viable will be held in Muscat, Oman on May 10 and 11, the release said.
MENA is the second major flaring region in the world, with about 30 billion cubic meters (bcm) of associated gas (20 per cent of total global flaring); enough to feed a 20 MT LNG plant, or 6 medium-size LNG trains. Iran, Iraq, Algeria, Qatar, Saudi Arabia, Oman, and Kuwait are amongst the top 20 flaring countries in the world. Over the past few years several of these countries have demonstrated a strong commitment to tackle the challenges surrounding gas flaring reduction, the release said.
Flaring or burning of natural gas occurs most often in remote areas where there is no gas transportation infrastructure or local gas markets. Since its inception in 2002 the GGFR partnership has encouraged more vigorous efforts to eliminate flaring, such as re-injecting it into the ground to boost oil production, converting it into liquefied natural gas for shipment, transporting it to markets via pipelines, or using it on site for generation of electricity, the release said.
“This MENA forum is extremely important, as gas flaring has significant environmental and economic consequences that need to be addressed,” the release said quoting Paulo de Sa, Manager of the World Bank’s Oil, Gas and Mining Policy division. “Reducing flaring and increasing the utilisation of natural gas is a concrete contribution to energy efficiency and climate change mitigation.”
Source: http://www.khaleejtimes.com/DisplayArticleNew.asp?col=§ion=business&xfile=data/business/2010/May/business_May90.xml
5 May 2010
ABU DHABI — The World Bank-led Global Gas Flaring Reduction partnership or GGFR and Masdar have teamed up to host a forum to explore and promote efforts that mitigate the impact of flaring massive quantities of natural gas from the hydrocarbon reserves across the world.
Gas flaring has significant economic and environmental implications, the experts at World Bank and Masdar, Abu Dhabi’s multifaceted renewable energy initiative said in a Press release on Tuesday. It is estimated that the amount of gas flared annually across the globe is more than the combined gas consumption of South America and Central America and this wastage of gas has enormous economic consequences.
Gas flaring — the process of burning-off associated gas from wells, hydrocarbon processing plants or refineries, either as a means of disposal or as a safety measure to relieve pressure — is also recognised as a major environmental problem; with estimates that it contributes some 400 million tons of CO2 emissions worldwide, which is equivalent to more than one per cent of global CO2 emissions, the release said.
The GGFR - Masdar hosted forum, the first to be held in the Middle East & North Africa, will bring together global oil and gas companies, technology and service providers, financiers and regional government agencies for an in-depth debate on all issues relating to gas flaring from mitigating its impact to understanding how Carbon Finance can make flaring reduction projects more economically viable will be held in Muscat, Oman on May 10 and 11, the release said.
MENA is the second major flaring region in the world, with about 30 billion cubic meters (bcm) of associated gas (20 per cent of total global flaring); enough to feed a 20 MT LNG plant, or 6 medium-size LNG trains. Iran, Iraq, Algeria, Qatar, Saudi Arabia, Oman, and Kuwait are amongst the top 20 flaring countries in the world. Over the past few years several of these countries have demonstrated a strong commitment to tackle the challenges surrounding gas flaring reduction, the release said.
Flaring or burning of natural gas occurs most often in remote areas where there is no gas transportation infrastructure or local gas markets. Since its inception in 2002 the GGFR partnership has encouraged more vigorous efforts to eliminate flaring, such as re-injecting it into the ground to boost oil production, converting it into liquefied natural gas for shipment, transporting it to markets via pipelines, or using it on site for generation of electricity, the release said.
“This MENA forum is extremely important, as gas flaring has significant environmental and economic consequences that need to be addressed,” the release said quoting Paulo de Sa, Manager of the World Bank’s Oil, Gas and Mining Policy division. “Reducing flaring and increasing the utilisation of natural gas is a concrete contribution to energy efficiency and climate change mitigation.”
Source: http://www.khaleejtimes.com/DisplayArticleNew.asp?col=§ion=business&xfile=data/business/2010/May/business_May90.xml
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