Flaring is a growing issue in the oil and gas industry, which is under pressure to minimise the practice in order to reduce the environmental impact and, where possible, put flared gas to better use.
Studies show an estimated 142 billion cubic metres of natural gas, worth $21 billion, is wasted through flaring each year worldwide.
In addition to wasting a valuable natural resource, gas flaring contributes to global warming, adding as much CO2 to the atmosphere per year as 200 million cars. Even though the practice cannot be avoided in some circumstances, there are several ways operators can monetise the natural resource resulting in a win-win situation for themselves and the environment.
To curb the environmental and bottom-line implications of flaring, operators across upstream, midstream, and downstream must start with flare gas measurement. Gaining an understanding of the volumes of gas flowing through systems is the first port of call to manage emissions from flaring and support de-carbonisation plans to reach net-zero.