Statoil has decided to co-chair with the World Bank a campaign on gas-flaring reduction as part of the Sustainable Energy for All initiative launched by the United Nations.
The ultimate goal of the World Bank GGFR (Global Gas-Flaring Reduction) Partnership is to contribute to sustaining and accelerating the downward trend in global gas flaring by strengthening current country programmes and reaching out to countries and companies to join the Partnership. Statoil believes that a scaled up effort to reduce gas flaring should be complemented by a broader, more holistic, approach, including the whole gas value chain.
Statoil has launched a company-specific flaring intensity target value for 2015 and 2020 for its operated upstream facilities and has invited other companies to make similar commitments.
There is a growing interest and commitment among international oil companies to reduce flaring, with several companies and countries joining the World Bank GGFR Initiative.