Global warming remains a big challenge in our world today and a key focus area. Many organizations in the O&G and other industries have been focusing on the Paris agreement and Conference of the Parties (COP28) whereby parties to the United Nations Framework Convention on Climate Change (UNFCCC) convene annually to address climate change and the possible collaborative efforts to limit global warming and pursue efforts to limit temperature increase to 1.5C, reduce gas flaring globally, minimize environmental impact and conserve natural resources.
It is estimated that Iraq’s raw gas production is at 2,875 billion cubic feet p/day (Bcf/d) – of which 1,594 million scf/d is being flared. This represents $3.5 billion loss annually, not to mention the adverse climate and environmental consequences, from this gas produced as a byproduct of crude oil production. This places Iraq as the second largest gas flaring country in the world after Russia. (Source: the Iraq Energy Institute IEI 2022).
The Basrah region still flares around 1 billion cubic feet p/d
, wasting gas that could be otherwise harnessed and could potentially provide electricity for over 4 million Iraqi homes (or over 15 million people).
Our aim in BGC is to capture the wasted gas flared, reduce CO2e emissions that is impacting climate change, and protect the environment. BGC is regarded as one of the largest gas flaring reduction projects in the world, and part of the solution. We capture gas that is currently being flared from the Licensing Round 1 (LR1) oil fields in Southern Iraq.
Since commencement of operations, from 2013 to end of 2022 – BGC has prevented more than 160 million tonnes of CO2e emissions from entering the atmosphere. BGC has turned the previously wasted gas into cleaner energy, replacing existing energy sources, and greatly reducing Iraq’s overall greenhouse gas (GHG) emissions. This is equivalent to removing 3.5 million cars off the road for the same period.
Once our flagship project – Basrah NGL plant is fully onstream it will potentially further reduce greenhouse gas emissions by 10 million tons per annum.
The Iraqi Ministry of Oil (MoO) continue its efforts in reducing flaring in Iraq and established a goal to “end the burning of gas entirely” in favor of gas utilization. In 2016, the World Bank awarded the MoO with a certificate of appreciation for its efforts. LINK
