The International Energy Agency (IEA) has issued a stark warning about the harmful effects of worldwide gas flaring, which releases approximately 140 billion cubic meters (bcm) of natural gas annually.
This process contributes significantly to CO2 emissions, methane, and black soot, posing severe health and environmental risks.
In its report titled ‘Tracking Flaring Emissions,’ the IEA highlighted a slight reduction in global gas flaring volume for 2022, down by about 5 billion cubic meters (bcm) to 139 bcm, marking a roughly 3% decrease. Surprisingly, the volumes of natural gas flared in 2022 were comparable to levels observed in 2010.
The report underscored that gas flaring led to the emission of approximately 500 million tonnes of CO2 equivalent in greenhouse gases during 2022. Moreover, nearly 70% of flared gas is directed to flares that operate almost continuously.
In the context of the Net Zero Emissions by 2050 (NZE) Scenario, the IEA projected that all non-emergency flaring would be eradicated globally by 2030.
This ambitious target would result in a remarkable 95% reduction in flared volumes, thereby preventing the release of 365 million tonnes of CO2-equivalent emissions.
The IEA emphasized the dire consequences of non-emergency flaring and venting, processes that are even more environmentally damaging than flaring. These practices occur when operators opt to burn associated gas continually or semi-permanently during production or release it into the atmosphere.
The IEA estimated that the average global combustion efficiency, considering both active and extinguished flares, is roughly 92%, leading to the substantial release of potent greenhouse gases like methane, black soot, and nitrous oxide into the atmosphere.
Highlighting potential solutions, the report indicated that oil producers possess a range of readily available options to reduce and eliminate flaring. Additionally, various new technologies are under development to address this pressing concern.
