November 15th: gas flaring news
Clearly, the big news from last week was the historic Glasgow deal at COP26 (see full text here). The Global Methane Pledge is probably one of the most significant commitments made by over 104 countries. We applaud this achievement – and now it’s time to act.
In order to act, focussing here on gas flaring as a major contributor to methane, we think at least 3 key requirements. Firstly, we need;/agree to set a clear baseline on flaring emissions, secondly, we need to use credible, transparent and independent data to monitor our progress. Thirdly, we need to mobilise capital, and fourthly, to enhance technical and delivery capabilities.
- Our latest newsletter was out last week – if you are not yet registered for it, please sign up to it using the details on the right. You are also of course reminded to sign up to FlareIntel Free at here.
- Post COP, we are getting a surge of enquiries about how FlareIntel can help companies and countries to measure flaring performance. Our Pro tool tracks every flare in real time.
- The most significant news is probably the US/EU global methane pledge (100+ countries targetting a 30% methane reduction), but the absense of Russia, Iran and Algeria is concerning from a flaring point of view. The map below shows the difference between the methane pledging countries (left) and those that are “code red” on the right.
- We also have some concern about the flurry of “no more international financing of oil and gas projects” as per the 20 nations, and the EIB and other development banks, but hope that flare capture projects – which are some of the best projects on a dollar spent per tonne CO2e abated – can still happen.
- ExxonMobil announces that it will be flaring 120 million scf/day for 90 days from Yellowtail Project in Guyana.
- Neptune Energy has been awarded a gold standard by OGMP for it’s plans to reduce methane.