In fact, five percent is probably the least amount being wasted 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.
In addition to the burning off of this natural gas:
- That does not have an infinite supply and is not used to create any energy
- Puts pollution into our air and contributes to global warming
We have the UNKNOWN amount of wasted natural gas through all the leaks in the world's infrastructure of supply pipes.
The question is:
Why hasn't this wasteful practice been eliminated? (See answer in RED below)
Let us first put into perspective the amount of natural gas wasted through "Gas Flares" or "Venting" as shown in the chart below:
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.