In this post, we publish the White paper PCIC 2013 on moneytization of associated gases.
Every year around 150 billion cubic metres of gas are flared or vented across the global oil and gas sector. This is the equivalent to 32% of the European Union gas consumption. And offshore, more and more many small to medium size oil and gas fields remote from any existing commercial markets are discovered.
Due to lack of an established gas market in these regions, the “associated gas” from these marginal fields has been flared in the past. But new technologies are now available to transport power on long distances. Environmental aspects’ are of course rising concerns for project acceptance.
Environmental impacts of the gas flaring is on the agenda of international institutions. Thus, World Bank and European Bank for Reconstruction (EBRD) are targeting flare gases reduction by 30% in 2017 (vs 2011).
World Bank estimates that more than $50 billion flared gas every year.
• 30% less flaring equivalent to 52 million cars off the roads (CO2 equivalent)
Conversion of flared gas into electrical power appears as the first stone to build economic and social development in many countries.
You can download our paper above White paper PCIC 2013.
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