ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Friday, May 16, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business

Egypt joins global initiative to end routine gas flaring

Nibal Zgheib, EBRD by Nibal Zgheib, EBRD
December 8, 2017
in Business
Reading Time: 3 mins read
8
A A
0
Egypt joins global initiative to end routine gas flaring
Share on FacebookShare on Twitter

The FINANCIAL — Egypt announced on December 7 that it will be a signatory to the “Zero Routine Flaring by 2030” initiative, a global effort to reduce gas flaring at oil production sites. The endorsement was signed by His Excellency Tarek El Molla, Minister of Petroleum and Mineral Resources, and announced at the opening of the EBRD workshop in Cairo, “Ending Routine Flaring of Associated Gas in Egypt”.

The “Zero Routine Flaring by 2030” initiative, introduced by the World Bank in 2015, brings together governments, oil companies and development institutions who recognise that flaring is unsustainable from a resource-management and environmental perspective, and who agree to cooperate to eliminate routine flaring by no later than 2030.

At the workshop, jointly hosted by the Ministry of Petroleum and Mineral Resources and by the EBRD, Eric Rasmussen, the Bank’s Director, Natural Resources, said: “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.”

RelatedPosts

Two Men Sentenced for Real Estate and Tax Fraud

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

Confidence in regulation of the crypto and digital assets sector is rising, study

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

The workshop, attended by government representatives as well as representatives from companies and stakeholders across the Egyptian oil and gas sector, 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. The approach assesses the regulatory landscape in Egypt, reviews international lessons learned from gas flaring regulations and analyses the merits of different reform options for Egypt. This work builds on past technical assistance provided by the EBRD to identify viable technical solutions to reduce flaring in the country.

The report identifies seven key reform options for Egypt to strengthen the regulatory framework for utilising associated gas. This includes setting a comprehensive overall policy framework to address gas flaring. The endorsement of the “Zero Routine Flaring by 2030” initiative is an important part of setting this policy direction.

See also  Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

Other recommendations include steps to strengthen the framework for monitoring and reporting gas flaring, underpinned by adopting industry-wide standards for measurement. Streamlining the investment approval process, clarifying regulatory responsibilities, and providing an enhanced role for stakeholder engagement also feature as recommendations, according to the EBRD.

The EBRD and other international partners are already in discussions with counterparts in Egypt on taking some of the recommendations forward. The study has benefited from close engagement by the Ministry of Petroleum and Mineral Resources, and this cooperation is set to continue as the recommendations are developed further.

Associated gas is found with deposits of petroleum, either dissolved in the oil or as a free “gas cap” above the oil in the reservoir. It is extracted along with the oil and, traditionally, has been released or flared as a waste product. As a result, about 150 billion cubic meters of associated gas is still flared annually around the world. This amount is equivalent to about half of Europe’s natural gas consumption. If used to produce electricity, it would be enough to meet the entire demand of the African continent. When flared, it produces around 350 million tonnes of CO2, or 10 per cent of the annual emissions of Europe.

The gas can be used in several ways after processing: sold and included in natural-gas distribution networks, used for on-site electricity generation with engines or turbines, reinjected for enhanced oil recovery, converted from gas to liquids producing synthetic fuels, or used as feedstock for the petrochemical industry.

Gas flaring is a source of local pollution, global warming and a waste of a valuable fuel source. Egypt ranks 11th among the top gas-flaring countries in the world. Capturing the over two billion cubic metres of gas flared in the country could provide five per cent of national energy needs and add US$ 300 million a year to the Egyptian economy.

 

Related Posts

Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme
RealEstate

Two Men Sentenced for Real Estate and Tax Fraud

by Nibal Zgheib, EBRD
May 16, 2025
0

Two men were sentenced to prison today for a wire and tax fraud scheme to obtain title to a $1.3...

Read more
Cyber risks are one of the biggest threats to the digital and networked economy

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

May 15, 2025
Cryptocurrency Total Market Cap Jumped 80% After COVID-19 Crash

Confidence in regulation of the crypto and digital assets sector is rising, study

May 15, 2025
U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

May 13, 2025

Discussion about this post

  • Trending
  • Comments
  • Latest
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

May 15, 2025
How India and Pakistan Became Nuclear-Capable Countries

How India and Pakistan Became Nuclear-Capable Countries

May 7, 2025
U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

May 13, 2025
BMW Group sources aluminium produced using solar energy

Global solar PV growth expected to slow to 10% in 2025, reaching 655 GW new installations

May 6, 2025

The World’s First Operating System for Smart Cities

May 16, 2025
Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

May 16, 2025
Teacher arrested, charged with distribution and possession of child pornography

Army Soldier Charged with Child Pornography Offenses

May 16, 2025
Why Is Geographic Mobility Declining?

Why Is Geographic Mobility Declining?

May 16, 2025
Self-Made Millionaire at 14 Shares His Empowering Journey From Food Stamps to Financial Freedom

Self-Made Millionaire at 14 Shares His Empowering Journey From Food Stamps to Financial Freedom

May 16, 2025
ADVERTISEMENT

Popular Last 24h

  • The World’s First Operating System for Smart Cities

    24 shares
    Share 10 Tweet 6
  • Army Soldier Charged with Child Pornography Offenses

    21 shares
    Share 8 Tweet 5
  • Self-Made Millionaire at 14 Shares His Empowering Journey From Food Stamps to Financial Freedom

    21 shares
    Share 8 Tweet 5
  • Two Men Sentenced for Real Estate and Tax Fraud

    20 shares
    Share 8 Tweet 5
  • When Is the Best Time to Apply for a Business Loan?

    19 shares
    Share 8 Tweet 5
  • How to Budget for a New Car Without Sacrificing Your Lifestyle

    18 shares
    Share 7 Tweet 5
  • U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

    42 shares
    Share 17 Tweet 11

LATEST POSTS

The World’s First Operating System for Smart Cities

May 16, 2025
Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

May 16, 2025
Teacher arrested, charged with distribution and possession of child pornography

Army Soldier Charged with Child Pornography Offenses

May 16, 2025
Why Is Geographic Mobility Declining?

Why Is Geographic Mobility Declining?

May 16, 2025
Self-Made Millionaire at 14 Shares His Empowering Journey From Food Stamps to Financial Freedom

Self-Made Millionaire at 14 Shares His Empowering Journey From Food Stamps to Financial Freedom

May 16, 2025
Why Board Portals Are Vital for Modern Businesses?

When Is the Best Time to Apply for a Business Loan?

May 16, 2025
HX5 Maintains Excellence in Mission-Critical Operations Through Navigating Regulatory Challenges

HX5 Maintains Excellence in Mission-Critical Operations Through Navigating Regulatory Challenges

May 16, 2025
How to Budget for a New Car Without Sacrificing Your Lifestyle

How to Budget for a New Car Without Sacrificing Your Lifestyle

May 16, 2025
U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

May 15, 2025
Cyber risks are one of the biggest threats to the digital and networked economy

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

May 15, 2025

LATESTBUSINESS

Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

by Nibal Zgheib, EBRD
May 16, 2025
0

Cyber risks are one of the biggest threats to the digital and networked economy

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

by Nibal Zgheib, EBRD
May 15, 2025
0

Cryptocurrency Total Market Cap Jumped 80% After COVID-19 Crash

Confidence in regulation of the crypto and digital assets sector is rising, study

by Nibal Zgheib, EBRD
May 15, 2025
0

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

by Nibal Zgheib, EBRD
May 13, 2025
0

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

by Nibal Zgheib, EBRD
May 13, 2025
0

Homes Sold Faster than Ever in 2017

Tariffs Spur Home Improvement Shock: ‘Prices to Skyrocket,’ Expert Warns

by Nibal Zgheib, EBRD
May 7, 2025
0

Turkcell and Huawei Complete World’s First LTE Spectrum Coordination on a Commercial Network

Huawei Digital Power’s All-Scenario Grid Forming ESS Accelerates the Global Energy Transition and Construction of New Power Systems

by Nibal Zgheib, EBRD
May 7, 2025
0

PwC: Policymakers Must Offer Clarity and Coordination to Secure Net-Zero

PwC to Cut 1,500 U.S. Jobs as Part of Strategic Workforce Adjustment

by Nibal Zgheib, EBRD
May 6, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.