EBRD Joins Global Gas Flaring Reduction Partnership
8 November 2011: The European Bank for Reconstruction and Development (EBRD) has joined the World Bank and partners in the Global Gas Flaring Reduction partnership (GGFR) to evaluate the reasons why governments in Azerbaijan, Kazakhstan, the Russian Federation and Turkmenistan are not utilizing associated gas.
Azerbaijan, Kazakhstan, the Russian Federation and Turkmenistan are among the world's major flaring countries, a problem that accounts for some 360 million tons of greenhouse gas emissions globally. EBRD and the GGFR partnership will manage a market study to assess gas venting and flaring operations on about 100 oil sites spread across the four countries and identify the main obstacles hindering further utilization of excess gas. In addition, the study will analyze current legal and regulatory frameworks, look into market, infrastructure and financing barriers, and identify alternatives for gas utilization.
With this undertaking, EBRD also officially joins the GGFR partnership, a public-private initiative of some 30 major oil-producing countries and companies that aim to overcome the challenges for the utilization of associated gas. [World Bank Press Release]