Gas flares have been a growing concern in the environmental global community, with significant implications for the environment and people's health. The World Bank defines gas flaring as the practice of burning gases associated with oil extraction. Carried out for more than 160 years, as it is considered a "safe" way to get rid of gaseous by-products of the process, it releases carbon dioxide and methane, one of the main compounds responsible for the greenhouse effect.

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Recently, it was revealed that the oil and gas industry is responsible for a quarter of methane emissions, which account for 20% of total global emissions. Methane emissions from oil and gas are also estimated to increase by 11% between 2020 and 2030, according to the Autodesk FY23 Impact Report. However, this practice ignores the potential they may have as low-carbon LNG and in energy production.

According to the BBC, burning in Russia alone would make it possible to supply about 20 million homes a year in Europe. Adding up all the oil-producing countries, the positive impact would be extraordinary. One of the main reasons why companies choose not to take advantage of these gases is the initial investment required for capture equipment and the lack of regulation and enforcement, which allow the practice without a fine or other type of punishment. There is also the difficulty or lack of knowledge of how to find buyers for these waste gases. Currently, however, as well as Macaw, there are already specialized companies that offer these solutions.

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In addition to environmental impacts, the burning of gases also poses risks to human health. The pollutants released are associated with respiratory problems, cardiovascular problems, and even cancer. Communities near gas burning sites are particularly vulnerable, being exposed to high levels of air pollutants.

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It is clear that flared gases pose a significant threat to society, both because of their contribution to global warming and because of their harmful effects on the health of the population. Recently, there have been some advances to mitigate this type of burning. At COP 28, 52 signatories to the Oil and Gas Decarbonization Charter pledged to achieve net-zero greenhouse gas emissions by 2050 and end routine flaring by 2030, as well as meet the near-zero methane emissions target. 

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Macaw Energies aims to help companies and sectors decarbonize their production processes, contributing to sustainable development. We buy and distribute the gas captured in oil extraction, avoiding waste and pollution of the atmosphere.

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You can find more information about our solutions here.