Flare Gas offers potential to help Venezuela address its electricity shortage. Here is our summary of the opportunity:
As the reality sets in that Venezuela’s doesn’t have enough energy to monetize its vast oil and gas resources one of the country’s most immediate energy opportunities may literally be going up in smoke.
Across Venezuela’s oil-producing regions, large quantities of natural gas are routinely burned off through a process known as flaring. This associated gas is produced alongside oil but, due to inadequate gathering systems, pipelines, and processing infrastructure, much of it cannot be transported or sold. Instead, it is burned into the atmosphere as waste at great consternation from global entities addressing climate change.
Recent analysis from the Center on Global Energy Policy estimated that roughly 40% of Venezuela’s natural gas production is being flared or vented, and that recovering this gas could become central to restoring the country’s electricity system.
