May 13, 2016
Iran has succeeded in reducing the flaring of gas by 90 percent over the last three years, according to new figures released Sunday.
This is a dramatic change by a country that has long been known in the industry for burning up immense quantities of its natural wealth.
Iran has long been one of the biggest flarers among producing nations. Flaring means burning gas that comes up with oil as the oil is pumped out.
Three years ago, in May 2013, Deputy Oil Minister Mohsen Khojasteh-Mehr said 90 percent of all the natural gas that Iran was then flaring around the country would be gathered and used within two years.
It has taken three years, instead of two, but new figures Khojasteh-Mehr announced Sunday shows the goal has been reached.
Iran has historically captured much less gas than most oil producers. Critics have pointed out that the gas Iran flares could have produced more electricity than several Bushehr nuclear power plants.
Three years ago, Khojasteh-Mehr said Iran was flaring 260 million cubic meters of gas ever week, or about 10 percent of its production.
Sunday he said the country was flaring 28 million cubic meters per week, a reduction of 89.2 percent.
Khojasteh-Mehr said that was still too much and meant Iran was burning up $3.5 billion of its wealth every year.
Captured gas can be used to generate power and or can be pumped back into oilfields to maintain pressure and slow the natural decline in oil production rates. Khojasteh-Mehr did not say what Iran was doing with the gas no longer being flared.
Compared with Iran’s history of burning off 10 percent of its natural gas output, Saudi Arabia has not even burned off 1 percent for many years.