The World Bank has lamented the lack of significant progress in reducing gas flaring around the world over the past decade.
In a new report on the subject, the World Bank indicates that efforts have stagnated and reiterates the urgency of accelerating the decarbonization of economies.
Ten countries are responsible for three quarters of the world’s volume of gas flaring, an industrial practice of burning excess natural gas resulting from oil production, which has generated the emission of nearly 400 million tonnes of carbon equivalent. (eqCO2) in 2021.
Among these countries are Russia, Iraq, Iran, the United States, Venezuela, Algeria and Nigeria, which have “consistently appeared in the first seven places of this ranking for ten years”, according to a press release. of the World Bank. According to satellite data compiled and analyzed for the 2022 Global Monitoring Report of the Global Partnership for Gas Flaring Reduction (GGFR) under the financial institution, 144 billion cubic meters (bcm) of gas was flared in oil and gas exploration and production facilities last year.
“Climate change is one of the greatest development challenges of our time. To mitigate climate change, it is essential to end flaring, a polluting and wasteful practice, and to decarbonize oil and gas production, while accelerating the transition to cleaner energy”, explains Demetrios Papathanasiou , Global Director of Energy and Extractive Industries at the World Bank.
The flaring of gases in flares is the result of economic and market constraints, but also of a lack of political will and effective regulations, it is said. “While 2021, marked by the COVID-19 pandemic, proved disappointing overall on the global flaring reduction front, ‘promising trends’ were in several countries,” the statement added. in Washington.
The GGFR thus notes that the United States was the only one of the ten countries at the top of the ranking of countries emitting flared gases to have succeeded in reducing the volumes of flared gas while increasing the production of hydrocarbons over the last decade. : the volume of gas flared per barrel of oil produced has been reduced by 46%.
“Many oil-producing countries already have policies in place to reduce flaring and gas release, but not all approaches have proven effective,” notes Zubin Bamji, GGFR manager at the World Bank. The Global Partnership for Gas Flaring Reduction (GGFR) is a trust fund and coalition of governments, oil companies and multilateral organizations working to eliminate systematic gas flaring at production sites. world oil.