As the world reacts to a low commodity and oil price markets, energy companies are forced to seek more efficient ways of operating. This paper addresses the impacts of improperly managed gas disposal systems including lost revenue potential as well as the contribution to greenhouse gas emissions. It is tailored to the energy industry of Trinidad and Tobago which aims to achieve a reduction in overall emissions by 15% by 2030 from BAU (Business As Usual baseline) under the UN Framework Convention on Climate Change.
The study highlights and evaluates the major opportunities for emissions reduction including, but not limited to, conversion from cold vents to flares, implementation of hybrid flare-vent systems, conversion from natural gas to inert gas purge systems and proper monitoring and optimization of flaring rates. Supporting calculations and case studies are based on actual and theoretical data (from mass balances or otherwise) from local oil and gas operators.
The lack of reliable measurement data and trends for flare volumes was indicative of an industry that has grown callous to wastefulness. Findings revealed that significant value can be extracted through modest monitoring improvement projects, optimization of existing operations and increased operator conscientiousness.