Global Gas Flaring Reduction Forum Reviews Progress Achieved
25 October 2012: The Global Gas Flaring Reduction (GGFR) partnership, a public-private initiative led by the World Bank that facilitates and supports national efforts to use currently flared gas, has called on oil producers, countries and companies to reduce flaring of natural gas associated with oil production by 30% by 2017.
The call was made at the Global Gas Flaring Reduction Forum, organized by the World Bank and hosted by the European Bank for Reconstruction and Development (EBRD) in London, UK, from 24-25 October 2012. The Forum aimed to review progress since the partnership was launched at the 2002 World Summit on Sustainable Development (WSSD) held in Johannesburg, South Africa.
The World Bank reports that GGFR partners have already reduced flaring by: establishing a global standard for gas flaring reduction; sharing best practices on regulation and technology deployment; and by identifying and supporting gas utilization projects. They have also agreed to strengthen their collaboration to reduce gas flaring by working along the whole gas value chain.
According to the World Bank, GGFR partners will focus on helping countries develop gas infrastructure and gas markets, as a way of expanding access to cleaner electricity and cooking fuels.
EBRD has already financed two projects aimed at reducing associated petroleum gas (APG) flaring in Russia, which accounts for a quarter of gas flared globally.
The GGFR is a public-private initiative of some 30 major oil-producing countries and companies. It aims to overcome the challenges for the utilization of associated gas, including lack of regulations and markets for associated gas utilization. GGFR partners' main objective is to reduce the environmental impact of gas flaring, as well as the waste of a valuable energy source. Global gas flaring, estimated in 2011 at 140 billion cubic meters (bcm), also accounts for some 360 million tons of greenhouse gas (GHG) emissions. [World Bank Press Release] [EBRD Press Release]