On august 30, the Azerbaijan state oil and gas company (SOCAR) will meet with officials from the World Bank and executives from Azneft to discuss SOCAR's plans to reduce associated petroleum gas (APG) flaring, 1news.az reports.
IKn August 2008, SOCAR and the World Bank signed an agreement on the World Banks' program Global Gas Flaring Reduction Partnership (GGFR) under which SOCAR drafted a plan to reduce flaring.
The Global Gas Flaring Reduction Partnership launched by the World Summit on development in Johannesburg in August 2008 aims to lower the level of APG to solve problems of global climate change. GGFR participants intend to overcome barriers on the path to lowering the global level of flaring gas by sharing leading international methods and carrying out programs in individual countries.
The GGFR initiative aids this goal by implementing regulatory mechanisms and investing in infrastructure to more effectively utilise gas on domestic and international energy markets.
As one method of state-prive partner co-operation, GGFR supports a wide range of government and oil companies around the world, including countries in Europe and Central Asia like Azerbaijan, Kazakhstan, Russia, Turkmenistan and Uzbekistan.
SOCAR To Tackle APG Flaring With World Bank
Source : Oil and Gas Eurasia