Many environmentalist would estimate that 5 percent is probably the least amount being wasted just through gas flaring. What is Gas Flaring?
Each year throughout our world, natural gas is burned-off and wasted by the billions of cubic meters (BCM). Mostly from the process of oil extraction. Yes, the natural gas is a by-product and has been burned-off year after year, after year, after decades.
The consequences to this wasteful Gas Flaring are:
- None of this fuel supply is used to create any energy
- Gas Flaring contributes to global warming and health issues
- Natural gas does not offer an infinite supply to us so this waste is pure glutton behavior
Another issue is how does one derive a five percent amount? What about all the UNKNOWN natural gas lost and wasted throughout the leaks in the world's infrastructure of supply pipes.
Isn't the real issue about why hasn't this wasteful practice been eliminated?
Let us first put into perspective the amount of natural gas wasted ANNUALLY through "Gas Flares" or "Venting" as shown in the chart below:
About 15 BCMs of natural gas wasted in
About 25 Percent (25%) of our consumption in the United States is wasted
About 30 Percent (30%) of consumption in the European Union is wasted
About 50 billion cubic meters is wasted annually in the
"The total is about 400 million metric tons of CO2 per year, with no production of any power or energy, just wasted gas... Worldwide"
So the wasteful burning of unused gas continues today, but today we have the technology to stop this wasteful practice. In fact, all this gas wasted can be stopped within a few years. The types of solutions to prevent wasting natural gas matches the part of the world the gas flares are occurring. There is gas re-injection to improve the oil recover process, generating power on the spot, and creating a distribution of gas pipelines.
This wasted natural gas is reliable and affordable power. Our global economy will also improve if this wasted natural gas was placed on the market. Some estimates show Twenty billion dollars lost annually. What are these companies waiting for?
* About 50% of Nigeria's population does not have electricity so diesel-powered generators are used to make electricity. Capturing the flare gas can save Nigeria about 13 billion dollars that is spent each year on creating electricity from diesel-powered generators and help that country's economy.
Bill Lauto, GTG