Page 9 - FSUOGM Week 19 2022

FSUOGM POLICY FSUOGM

World Bank report: 10 oil-producing states

account for 75% of global gas flaring

GLOBAL PROGRESS on the global drive to reduce gas Nevertheless, while 2021 showed disappoint-
flaring, the practice of burning off associated ing progress amidst the global pandemic, some
Seven of these countries gas during oil production, has stalled out over promising flaring reduction trends emerged in
have remained in the the last decade, according to the World Bank. several countries.
top 10 consistently over A report from the bank's Global Gas Flaring According to the GGFR, the US is the only
the past 10 years. Reduction Partnership (GGFR) says gas flaring one of the countries among the top 10 to have
generated nearly 400mn tonnes of carbon diox- successfully reduced flare volumes while increas-
ide (CO2) equivalent emissions in 2021. ing production over the last decade, decreasing
It also notes that 10 oil-producing countries its flaring intensity by 46%. (In a companion
accounted for 75% of all gas flaring. Seven of report, Global Flaring and Venting Regulations,
these – Russia, Iraq, Iran, the US, Venezuela, GGFR examines the flaring and venting poli-
Algeria, and Nigeria – have remained in the top cies of 21 countries and highlights successful
10 consistently over the past 10 years. approaches to reducing emissions.)
Data from the GGFR’s 2022 Global Gas The report finds that many countries have
Flaring Tracker Report shows that 144bn cubic also demonstrated leadership in flare reduction.
metres of gas was flared at upstream oil and gas It notes, for example, that Kazakhstan achieved
facilities last year. The practice led to the release the largest overall flare reduction of all countries
of 361mn tonnes of carbon dioxide, as well as in the last 10 years, reducing absolute flaring
39mn tonnes of CO2 equivalent emissions in the from 4 bcm in 2012 to 1.5 bcm in 2021, owing to
form of methane and black carbon (soot), con- strictly enforced regulations. Colombia, mean-
tributing significantly to global warming. while, reduced flaring from 1 bcm in 2012 to 0.3
“Climate change is one of the defining devel- bcm in 2021 through domestic gas utilisation
opment challenges of our time,” said Demetrios and strong regulations that prohibit any gas from
Papathanasiou, Global Director for the Energy being wasted.
and Extractives Global Practice at the World “Many oil-producing countries already have
Bank. “Ending the polluting and wasteful prac- policies in place to reduce gas flaring and vent-
tice of gas flaring and decarbonising oil and gas ing, but not all approaches have proven effective,”
production, while also accelerating the transition said Zubin Bamji, GGFR’s programme manager
to cleaner energy, is fundamental to mitigating at the World Bank. “Our new regulatory review
climate change.” and analysis will help governments create the
Gas flaring has continued because of market right policies for their specific circumstances so
and economic constraints and a lack of appropri- routine flaring and venting can come to an end
ate regulation and political will, says the GGFR. by 2030, which is our collective goal.” ™

Week 19 11•May•2022 www. NEWSBASE .com P9