Kazakh oil producers cut gas flaring by one-third
June 29. Central Asia Newswire
Kazakhstan’s oil producers have cut gas flaring by one-third in five years reducing CO2 emissions by nearly 6 million tons, the World Bank said on Monday.
This is equivalent to the amount of greenhouse gases produced by 1 million cars.
The figure ranks the leading Central Asian oil and gas producer at the top of the global list of nations working to lower greenhouse gas output by turning away from gas flaring, the institution said on its website worldbank.org.
Oil producers burn off gas by the method known as gas flaring to get rid of natural gas that they do not need owing to the lack of markets or infrastructure.
Kazakhstan’s foreign-led oil and gas consortium working the supergiant Tengiz oilfield on the northeast shore of the Caspian Sea is one of the major players behind the achievement.
The TengizChevroil project that includes Chevron, ExxonMobil, Kazmunaigaz, and LukArco, has cut flaring emissions by more than 94 percent since 2000.
The joint venture boosted oil production by nearly 150 percent over the same period.
On a global level, oil producing nations reduced gas flaring emissions by 22 percent between 2005 and 2010, according to satellite estimates.
The ratio of gas flared compared with the volume of oil production since 2002 shows a drop of 15 percent.