A study released by GE entitled Flare Gas Reduction: Recent Global Trends and Policy Considerations estimates that 5% of the world’s natural gas production is wasted by burning or ‘flaring’ unused gas each year. This amount equates to 30% of consumption in the EU and 23% in the US. Gas flaring emits 400 million tpy of CO2 without producing any useful heat or electricity.
The study finds that the technologies required for a solution exist today. Depending on region, these may include power generation, gas reinjection (for enhanced oil recovery, gathering and processing), pipeline development and distributed energy solutions. Nearly US$ 20 billion in wasted natural gas could be used to generate reliable, affordable electricity and yield billions of dollars per year in increased global economic output.
‘Power generation, gas reinjection and distributed energy solutions are available today and can eliminate the wasteful practice of burning unused gas. This fuel can be used to generate affordable electricity for the world’s homes and factories,’ said Michael Farina, program manager at GE Energy and author of the white paper.
‘With greater global attention and concerted effort, including partnerships, sound policy and innovative technologies, large scale gas flaring could be largely eliminated in as little as five years’.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04042011/5_percent_of_the_world%E2%80%99s_natural_gas_wasted/