Billions Wasted: Global Gas Flaring Reaches 17-Year High
Billions Wasted: Global Gas Flaring Reaches 17-Year High
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The amount of gas burned off by the fossil fuel industry hit its highest level since 2007 last year, releasing as much climate-warming pollution as the entire country of France, The Guardian reported.
A new report from the World Bank reveals a significant increase in gas flaring, the practice of burning off excess natural gas during oil extraction. This wasteful process, which releases methane and other pollutants, rose for the second year in a row, reaching its highest point since 2007.
In 2024, a staggering 151 billion cubic meters of gas were flared globally. This happens mostly because it’s often cheaper for companies to simply burn the gas rather than capturing, transporting, and selling it. The report points to weak rules and poor enforcement, with companies facing minimal financial penalties for this pollution.
Just nine countries—Russia, Iran, Iraq, the US, Venezuela, Algeria, Libya, Mexico, and Nigeria—are responsible for 75% of all global flaring. Many of the worst culprits are state-owned oil companies. Despite calls to reduce flaring, the amount of gas flared per barrel of oil produced hasn’t significantly improved in 15 years. For instance, Norway’s flaring is 18 times lower than the U.S. and a whopping 228 times lower than Venezuela’s.
Experts are deeply concerned about this waste and its environmental impact. The International Energy Agency aims to eliminate all routine flaring by 2030. The gas burned off in 2024 alone was worth an estimated $63 billion, which is more than half the estimated cost to stop the practice worldwide.
While the problem is widespread, some countries are making progress. Angola, Egypt, Indonesia, and Kazakhstan have successfully reduced their flaring, with Kazakhstan cutting it by an impressive 71% since 2012 thanks to strict fines. The report emphasizes the need for stronger political commitment, tougher regulations, and better global cooperation to end routine gas flaring and improve energy access for everyone.
