NWE 0.00% 5.6¢ norwest energy nl

update: hydraulic fracturing proposals in Western Australia...and flaring

  1. 231 Posts.
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    Not sure if people have seen this position paper update, (22 Dec 2021) I just noticed reference to Zero Routine Flaring.
    https://www.hydraulicfracturing.wa.gov.au/wp-content/uploads/2021/12/4.217388_GHG-Position-Paper.pdf
    "World Bank zero routine flaring by 2030.
    To eliminate emissions of CO2 to the atmosphere from routine flaring of
    reservoir gas, the World Bank established the Zero Routine Flaring by 2030
    initiative (ZRF 2030) to bring together governments, oil companies and
    development institutions who agree to cooperate to eliminate routine flaring no
    later than 2030.
    ZRF 2030 is based on the premise that routine flaring is not sustainable during
    production from a resource management and environmental perspective.
    In February 2019, the Western Australian Government became the first
    Australian jurisdiction to endorse the World Bank’s ZRF 2030 initiative.
    Companies operating production oil and gas fields in Western Australia are
    therefore required to comply with ZRF 2030."

    Would we expect flaring to tail off soon (as a good will, and planning strategy for companies), or will if go on until 2030? [Talking about the industry not just specifically NWE, but people were commenting earlier about wanting to see flaring (better than seeing fireworks)].

    There is also more info in that document about setting baselines, and monitoring mitigating and offsetting fugitive emissions.
 
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