Global Perspective in Gas Flaring

The global movement to reduce greenhouse gas (GHG) emissions and promote decarbonization as a pathway to achieve net-zero goals is rapidly gaining momentum. It is widely acknowledged as one of the primary catalysts shaping energy policies in the current era. Numerous countries have made substantial environmental pledges; however, the next crucial step is to effectively translate these commitments into tangible decarbonization projects with dedicated funding. Methane emissions in oil and gas value chain are generally produced from one of three sources: leaks (which take place unintentionally through a faulty seal or a leaky valve), venting (which take place when gas is released intentionally for safety or operational purposes) and flaring (which takes place when gas is burnt when it cannot be used or recovered). The oil and gas industry is under immense pressure to reduce greenhouse gas (GHG) emissions resulting from non-emergency gas flaring and venting. This urgency stems from the fact that these activities release substantial amounts of methane directly into the atmosphere, which has a detrimental impact on climate change and poses a significant environmental obstacle to achieving net-zero goals. Methane emissions are considered the second-largest contributor to global warming among GHGs, following CO2. Although methane has a shorter lifespan in the atmosphere compared to CO2, it is more potent in terms of its greenhouse effect. It is estimated that methane is responsible for approximately 30% of the Earth's temperature increase.