Egypt has joined a global initiative to end the routine flaring of gas at oil production sites.
It will join the Zero Routine Flaring by 2030 initiative, which aims to bring together governments, oil companies and development institutions who agree the practice is unsustainable from a resource management and environmental perspective.
‘Associated gas’ is extracted along with oil and is often burnt off as a waste product, even though it could be used to produce enough electricity to meet the entire demand of the African continent.
Currently, around 150 billion cubic meters of associated gas is still flared annually around the world, equivalent to about half of Europe’s natural gas consumption.
This produces around 350 million tonnes of carbon dioxide each year.
Eric Rasmussen, the European Bank for Reconstruction and Development’s Director of Natural Resources, said: “The EBRD is deeply involved in initiatives in its countries of operations to reduce gas flaring.
“Gas flaring is not only a climate change hazard, it is also a waste of an important resource that could be better used to improve economic and social activities.”