Cairo – Mubasher: The Egyptian petroleum ministry said on Thursday that it has joined “Zero Routine Flaring by 2030” initiative, launched by the World Bank in 2015 in a bid to reduce gas flaring at oil and gas fields.
In pursuit of this goal, Egyptian oil minister Tarek El-Molla and the European Bank for Reconstruction and Development (EBRD) kicked off “Ending Routine Flaring of Associated Gas in Egypt” workshop in Cairo.
The “Zero Routine Flaring by 2030” initiative brings together governments, oil and gas companies which recognise that flaring is unsustainable from environmental perspective. The parties seek to eliminate routine flaring by 2030.
“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,” EBRD Director Eric Rasmussen said on the sidelines of the workshop.
A group of government officials, as well as representatives from oil and gas companies in Egypt attended the workshop.
The workshop also discussed a report on “Associated Petroleum Gas Flaring in Egypt: Addressing Regulatory Constraints”.
“The EBRD-funded study makes recommendations on options for gas flaring regulatory reform that would help to improve the regulatory framework and thereby increase the utilisation of the associated gas that is produced together with the oil”, according to EBRD's statement.