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Uwe Lauber, CEO MAN Diesel & Turbo
Huge flare-gas flames can be seen burning wherever oil is produced, whether at sea or on land. The flames, burning round-the-clock, 24 hours a day, 7 days a week, are even visible from space, making them literally a beacon of waste. Oil producers release around 150 billion cubic meters of flare gas each year, which translates into 350 million tons of carbon dioxide released into the atmosphere.
Looking at a few examples of what could be achieved instead adds a whole new and alarming economic and ecological dimension to this madness. The 150 billion cubic meters of gas, for example, could cover the global need for gas for 20 days or meet the needs of France and Germany, two industrial countries, for a whole year. The carbon dioxide released during flaring is equal to the amount released by 77 million cars. To put this into context, 62 million cars were registered in Germany on January 1, 2017.
But it isn’t only the environment that suffers. Releasing unused methane, which is expensively mined in gas fields in other parts of the world, is a huge waste of capital from a macroeconomic perspective. Methane is valuable; clean natural gas technologies for transport and power generation are essential for the transition toward a sustainable energy supply.
Read full article on Handelsblatt Global