25 January 2009: The World Bank’s Global Gas Flaring Reduction partnership (GGFR) welcomed Qatar as the first Gulf State to join the global effort to reduce the flaring of gas associated to oil production.

Somit Varma, the World Bank Group’s Director for Oil, Gas, Mining and Chemicals, highlighted the importance of curbing the environmentally harmful waste of gas in the oil-rich Middle East in order to achieve global carbon dioxide emissions reductions. The GGFR partnership estimates that globally some 150 billion cubic meters (bcm) of gas are flared or wasted every year, creating about 400 million tons of greenhouse gases in annual emissions. This is equivalent to almost all the potential yearly emission reductions from projects currently submitted under the Kyoto mechanisms. The amount of gas flared in the Middle East alone (about 30 bcm) could feed a 20 million ton liquefied natural gas plant. The World Bank has called on other oil producing countries and companies in the Middle East to join worldwide efforts to reduce the venting or flaring of natural gas, and increase energy efficiency to mitigate climate change. [World Bank Press Release]