A global energy provider, Eni, has said it is committed to achieving zero gas flaring in Nigeria and other African countries where it operates by 2025.
A statement on Wednesday said a delegation from the Italian oil major to the World Bank underlined alignment with the World Bank’s access to energy and gas flaring reduction objectives for Africa.
It said the delegation, headed by the Chief Financial Officer, Eni, Massimo Mondazzi, gave a presentation to the World Bank that reinforced the group’s continued commitment to sustainable growth.
Speaking at the World Bank’s headquarters in Washington, Mondazzi underlined Eni’s resilience in the current economic environment, and spoke of the company’s efforts to allow a wider access to energy in the sub-Saharan region of Africa.
According to the statement, one of Eni’s key strategies for the region is the World Bank’s Global Gas Flaring Reduction Partnership, a public-private initiative comprising international and national oil companies, national and regional governments, and international institutions.
The World Bank, which is leading the GGFR’s efforts to significantly reduce the amount of gas flared globally, estimates that flaring resulted in the burning of 147 billion cubic metres of natural gas in 2015, a figure that could generate 750 billion KWh of electricity, a quantity that exceeds the current annual consumption of the entire African continent.
Flaring gas wastes a valuable energy resource that could be used to support economic growth and progress, and contributes to climate change by releasing millions of tons of carbon dioxide to the atmosphere.
“Eni is proud to be a member of the GGFR and we have been in the process of reducing gas flaring at of our assets. We are committed to achieving zero process flaring by 2025.” Mondazzi said.
Eni said it had cut flaring by around 75 per cent in the last decade, adding, “Wherever possible, the gas is made available to the local market for electricity generation, providing access to electricity to over 18 million people in sub-Saharan Africa.”
A Senior Director and Head of the World Bank’s Energy and Extractive Industries Global Practice, Riccardo Puliti, said, “The World Bank recognises that Eni is following up its endorsement of the ‘Zero Routine Flaring by 2030’ Initiative with action on the ground, working to use flare gas for power projects and other applications that reduce CO2 emissions.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.