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Annual Report and Accounts 2016

General Manager’s Report

SIGTTO

Society for International Gas Tanker and Terminal Operators Ltd

Continually promoting best practice in the liquefied gas shipping and terminal industries for 38 years

1

SIGTTO Purpose

SIGTTO has been organised to encourage the safe and responsible operation of liquefied gas tankers and marine terminals handling liquefied gas; to develop advice and guidance for best industrial practice among its members; and to promote criteria for best practice to all who have responsibilities for, or interest in, the safety of gas tankers and terminals.

SIGTTO 2020 Vision

(Where the Society wishes to see itself in 2020, according to its Strategic Plan)

SIGTTO will be recognised as the foremost gas shipping and terminal industry body - a modern centre of industry expertise - with all appropriate resources available to address industry technical and operational issues. It will be the industry advocate for the proactive enhancement of safe and sustainable international gas terminal and shipping operations through the provision of consistent guidelines and measures.

Contents

SIGTTO

Annual Report 2016

Contents

5

7

  • President’s report
  • 15 SIGTTO Secretariat

The Society’s Secretariat office staff

30 Hot off the presses

  • Review of latest industry
  • David Furnival presents

an overview of outstanding progress in a notable year best practice publications from SIGTTO

16 SIGTTO committees and subcommittees

Internal restructuring to accommodate

General Manager’s report

Andrew Clifton looks back on notable SIGTTO developments in 2016

30 Publications list

Paid publications available from SIGTTO
Strategic Plan 2016

33 Financials

89

SIGTTO members

Full and Associate Members as of 31 December 2016

18 Industry regulations and standards

Statement of Comprehensive Income for the year

  • ended 31 December 2016
  • SIGTTO participation

in the evolving regulatory regime governing gas ships

Benefits of SIGTTO membership
35 Inside Back Cover

Photo credits
Listing of the advantages that Society membership can bring

22 The industry year in review

Gas shipping and terminal 2016 timeline

11 SIGTTO in figures

A statistical review of SIGTTO’s membership and accomplishments

26 SIGTTO’s widening remit

Work programme extended to compressed natural gas carriers, ISO tank containers and liquefied hydrogen carriers

12 SIGTTO history

The evolution of SIGTTO since its formation in 1979

28 Panel Meetings and
Regional Forums
14 SIGTTO directors

SIGTTO directors and their companies, as of 31 December 2016
Busy SIGTTO meeting schedule facilitates two-way dialogue

3

Very large gas carrier traffic at the Enterprise terminal in Houston, the world’s busiest LPG loading facility

4

President’s Report

SIGTTO Strategic Plan implementation well underway

I am honoured to present SIGTTO’s 2016 annual report, following my appointment as President of the Society in November 2016, a personal 40-year career pinnacle.

Under the effective leadership of General Manager Andrew Clifton, SIGTTO has made strong and steady progress over the past 12 months towards delivering the objectives laid down in the Society’s new Strategic Plan. The completed document was approved at the Autumn Board and Annual General Meeting in November 2015.

publications have been delivered in the last 30 months and there are two more scheduled for publication in the next 12 months, a clear indication of an improving productivity. both the gas terminal community and the LPG and chemical gases sectors. As is the case with LNG, activity in the LPG and chemical gas industries is currently growing strongly. Increased participation from all parties will help ensure that the Society is fully representative of the entire liquefied gas value chain.
Safety and accident prevention are at the forefront of SIGTTO’s focus. With this in mind, the adoption of modern risk assessment and mitigation techniques such as the “bow-tie” tool is a welcome development, as is the formation of our new Human Element Committee (HEC). Human error in one form or other remains a causal factor in many accidents and it is imperative that we learn more about the underlying reasons behind accidents and near misses in order to develop more
As the use of LNG as a marine fuel gains more traction, with 105 LNG- fuelled ships in operation and another 75 on order, the excellent work of our sister organisation, the Society for Gas as Marine Fuel (SGMF), warrants appreciation. In the short time since its inception and with limited resources SGMF’s General Manager and Directors have gained genuine credibility and have a broad-based membership of 113. With seven working groups established and six publications
The goals laid down in the Plan, which covers the five-year period up to 2020, includes a strengthened Secretariat with the competencies and resources necessary to meet the challenges of supporting safety and operational integrity in an ever-growing and diversifying gas

  • terminals and shipping sector.
  • effective preventative measures.

The new, fourth edition of the Society’s

flagship publication, Liquefied Gas Handling Principles (LGHP4), has

As part of the drive Ian Harrison has been appointed to join the Secretariat staff as a full-time IMO representative. This new role requires that rare combination of technical and political acumen so necessary to effectively promote the Society’s strategies at international governmental level. A look at his CV reveals that Ian is wellqualified to deliver what is needed. already issued, their output has been impressive. SIGTTO remains committed to providing ongoing support to SGMF. proven to be something of a bestseller in the year since its release. This is welcome news on two counts – the royalties provide a revenue stream that underpins the financial security of the organisation and, even more importantly, its popularity across a broad spectrum of readers indicates that there is a significant appetite in our industry to be properly informed on how to handle liquefied gases safely.
In closing, it is with great sadness that I report the passing of SIGTTO Director Faisal Ismail on 29 June 2017 at the age of 56. Faisal, a former Vice President of LNG at MISC and the Chief Executive of Petronas Maritime Services, was a well-respected member of the Board whose considered
Ian’s appointment is enabling SIGTTO’s Technical Advisers to focus on new projects and publications. The scope of guidelines on safe operations will be expanded to include new areas such as compressed natural gas (CNG) carriers and LNG transported in ISO tank contribution to the Society’s direction and governance will be greatly missed.
The strong focus on engagement with members is paying dividends with a continually growing membership base that now stands at over 220, including 184 full and associate members, located in 55 countries. SIGTTO’s Regional Forums are proving to be particularly popular, with the September 2016 South American event in Buenos Aires hosting a record 110 participants.
On behalf of my colleagues at SIGTTO, I would like to express our sincere condolences to Faisal’s family and friends at this time of loss. containers. SIGTTO’s widening remit in this respect is described on page 26.

In parallel to the initiative to increase staff resources, SIGTTO is adopting a more systematic approach towards improving process structure and efficiency. As a result good progress has been made to reduce the backlog of projects sanctioned by the General Purposes Committee (GPC). Five paid
Additional efforts are being made to attract to the membership a greater proportion of operators from

David Furnival

SIGTTO President July 2017

5

Many import terminals are being called upon to play additional roles, including handling cargo reloads and transfers to conventional-size and small-scale vessels

6

General Manager’s Report

SIGTTO enjoyed another busy and eventful year in 2016

During the year 13 new members joined SIGTTO and 11 resigned. As of 31 December 2016 we had a total of 184 full and associate members.

The SIGTTO directors met three times during the year, as per the Society’s byelaws. The spring board meeting, kindly hosted by Engie, was held in Boston while the autumn board and annual general meetings took place in Nagoya where Chubu Electric was the host.

as appropriate, and over the years has written/co-sponsored submissions to IMO on various matters related to the LNG/LPG sector of the maritime industry. A principal focus for us in recent years has been the revision of the International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code) and the drafting of the new International Code of Safety for Ships using Gases or other Low-Flashpoint Fuels (IGF Code). in Perth in April 2016 and one of the highlights was the shipping session which I had the opportunity to chair.

As LNG shipping embarks on its second half century, it is important that the very proud safety record established by our industry is not forgotten. As the industry leader for disseminating best practice procedures and providing technical support for companies active in liquefied gas shipping and terminals, SIGTTO is at the forefront of maintaining this safety record.
The Society is registered in Bermuda as a “not-for-profit” entity. We are allowed to retain any surplus as reserves and each year we set the budget to generate a small surplus which goes to reserves. The reserve level we target is about one year’s operating costs and we are comfortably in excess of this target. The Society’s finances remain on a sound footing.
SIGTTO’s Secretariat maintains close contacts with other NGOs, principally the Oil Companies International Marine Forum (OCIMF), the International Chamber of Shipping (ICS), the Society for Gas as a Marine Fuel (SGMF), the International Association of Tanker Owners (Intertanko), the International Group of LNG Importers (GIIGNL) and BIMCO. Where appropriate, we co-ordinate our activities to ensure a consistent industry message is conveyed to the wider world.
It incumbent on SIGTTO to adapt to meet ever-changing industry requirements and to ensure that the Society remains relevant and fit for purpose to meet the needs and expectations of the membership in the 21st century. To assist in fulfilling its duties SIGTTO completed an updated Strategic Plan in 2016 and this is presently being implemented. The Plan outlines the direction the Society intends to take for the rest of the current decade, and progress in achieving the agreed goals will be reviewed at each board meeting.
SIGTTO’s General Purposes Committee (GPC) manages the Society’s affairs. The Committee met twice in 2016, at Perth in April and Cyprus in October. The Society maintains a full programme of activities, most of which are addressed by working groups populated by experts selected from the member companies.
The revised IGC Code entered into

force on 1 January 2016 and was implemented on 1 July. Also in July 2016, SIGTTO issued the fourth edition

of Liquefied Gas Handling Principles,

its premier publication. The IGF Code came into force on 1 January 2017.
SIGTTO’s Autumn 2016 Panel Meeting was held in Cyprus on the two days
The Society continues to be the principal

voice for the liquefied gas industry. It is an industry which is currently experiencing both strong expansion and high levels of technological innovation. following the October GPC. There was no Spring Panel in 2016 due to the clash with the international LNG 18 conference in Perth. SIGTTO Panels represent the main meeting forum for the members, and the Autumn 2016 Panel, like all the other events in the series, was well attended.
The delivery of the IGC and IGF Codes

and Liquefied Gas Handling Principles

means the SIGTTO Secretariat can now focus resources on other areas.
This is a very exciting and challenging time to be SIGTTO General Manager. I look forward immensely to working closely with the membership to meet the needs of our dynamic industry in the year ahead.
SIGTTO’s Regional Forum meetings continue to be held on a regular basis in various locations around the world. The timing of such meetings is largely dictated by the members themselves.
Amongst its roles, the Secretariat maintains a programme of external engagements to promote the Society’s profile. These include speaking to various bodies and chairing and presenting papers at international conferences such as Gastech and the LNG series of events. As an example, SIGTTO maintained a high profile at the LNG 18 conference
The Society has ‘observer status’ as a non-governmental organisation (NGO) at the International Maritime Organisation (IMO). SIGTTO’s Secretariat attends IMO committee and subcommittee meetings,

Andrew Clifton

General Manager July 2017

7

Membership

SIGTTO members

(as at 31 December 2016)

Full Members

  • Aegis Logistics Ltd
  • Fluxys LNG
  • Osaka Gas Co Ltd

AES Andres Alpha Gas SA Anglo Eastern Ship
Freeport LNG Development LP GasLog LNG Services Ltd Gate Terminal BV
Pertamina Transportation LNG - JMG Petrobras Transporte SA - Transpetro POSCO
Management (Singapore)
Anthony Veder Rederijzaken BV Atlantic LNG Company of
Trinidad & Tobago
Avance Gas Holding Ltd Bahia de Bizkaia Gas SL Bernhard Schulte Shipmanagement Ltd B-Gas Ltd BP Berau Ltd BP Shipping Ltd Brunei LNG Sdn Bhd Bumi Armada Berhad BW Gas AS BW LPG Ltd Calor Gas Ltd Cameron LNG Canaport LNG Chemgas Shipping BV Cheniere LNG Inc Chevron Shipping Company LLC China LNG Shipping
(International) Company Ltd
Chubu Electric Power Co Inc Chugoku Electric Power Co Inc ConocoPhillips Global Marine Consolidated Marine Management Inc CPC Corporation, Taiwan DESFA Hellenic Gas Transmission
System Operation
Gazocean Geogas Maritime SAS Golar LNG Ltd Golar Management Norway AS Golden Pass LNG H-Line Shipping Co Ltd Hoegh LNG Hyproc Shipping Company Hyundai LNG Shipping Co Ltd Iino Kaiun Kaisha Ltd Ineos Inpex Corporation
Prime Gas Management Inc Pronav Ship Management PT Donggi Senoro LNG PTT LNG Company Ltd Qatar Petroleum
(Industrial Cities Ports)
Qatar Gas Transport Company Ltd Qatar Shipping Company SPC Qatargas Operating Company Ltd QCLNG Operation Company Pty Ltd Ras Laffan Liquefied Natural
Gas Company Ltd
RWE Supply & Trading GmbH Santos GLNG Saudi Arabian Oil Co (Saudi Aramco) SCF Management Services (Dubai) Ltd Sempra LNG
International Gas
Transportation Co Ltd
Iwatani Corporation Japan Petroleum Exploration Co Ltd JX Nippon Oil & Energy Corporation Kansai Electric Power Co Inc Kawasaki Kisen Kaisha Ltd Kinder Morgan Inc Knutsen OAS Shipping Koch Shipping Pte Ltd Korea Gas Corporation Kuwait Oil Tanker Co SAK Lake Charles LNG Company LLC Lauritzen Kosan A/S LNG Japan Corporation LNG Shipping SpA Malaysia LNG Sdn Bhd Maran Gas Maritime Inc Marubeni Corporation MISC Bhd Mitsubishi Corporation Mitsui & Co Plant Systems Ltd Mitsui OSK Lines Ltd Naftomar Shipping & Trading Co National Gas Shipping Company Ltd National Grid Grain LNG Nigeria LNG Ltd Norgas Carriers Private Ltd Northern Marine Management Ltd NYK Line (Nippon Yusen Kaisha) Oiltanking Antwerp Gas Terminal NV OLT Offshore LNG Toscana SpA Oman LNG LLC
Shell International Trading
& Shipping Co Ltd
Shipping Corporation of India Shizuoka Gas Co Ltd SK Shipping Sonangol Marine Services Inc South Hook LNG Terminal Co Ltd SPT Ltd Stena LNG Services AB Sunoco Logistics LP Synergy Maritime Pvt Ltd Teekay Shipping TEPCO Fuel & Power Inc The Bahrain Petroleum
Company BSC (Closed)
Thenamaris LNG TMS Cardiff Gas Ltd Toho Gas Co Ltd Tohoku Electric Power Co Inc Tokyo Gas Co Ltd Total SA
Dorian LPG Management Corp Dragon LNG Ltd Dubai Supply Authority Dynagas Holding Ltd Egegaz Anonim Sirketi Egyptian Operating Company for
Natural Gas Liquefaction Projects
Elengy Empresa Naviera Elcano SA Enagas Transporte SAU Energy Transportation Group Inc Engie
Ultraships ApS Uniper Global Commodities SE V Ships Ltd Wilhelmsen Ship Management Sdn Bhd Woodside Energy Ltd YPF SA
Evergas A/S Excelerate Energy LP Exmar NV ExxonMobil - SeaRiver Maritime

8

Membership

Associate Members

  • Gas Sayago SA
  • Petronet LNG Ltd

ABS

Gazprom Marketing & Trading Singapore Pte Ltd GNL Quintero SA
Polish Oil and Gas Company Polskie LNG SA Port of Rotterdam Authority Port of Sheerness Ltd Saga LNG Shipping Pte Ltd Singapore LNG
Corporation Pte Ltd
Smit Lamnalco Steelhead LNG Corp Svitzer A/S
Anadarko Petroleum Corporation Angola LNG Ltd Angola LNG Marketing Ltd Boluda Towage and Salvage Bureau Veritas China Energy Ship
Management Co Ltd
ClassNK CNOOC-Fujian LNG Co Ltd DNV GL
GTT Training Ltd Guangdong Dapeng LNG Co Ltd Hazira Port Private Ltd H-Energy Gateway Private Ltd Jordan Cove LNG LLC Kotug International Lloyd’s Register LNG Canada Development Inc Maritime and Port Authority of Singapore
Maritime Safety Queensland Milford Haven Port Authority Moran Towing Corporation NextDecade LLC
Total E&P Norge AS Venture Global LNG Inc Vitol Services Ltd Warsash Maritime Academy
(Southampton Solent University)
WesPac Midstream
Dunkerque LNG ElectroGas Malta Ltd Etkilman Isletmeleri Dogalgaz
Ithalat Ve Ticaret AS
ExxonMobil PNG Ltd FLEX LNG

  • Fratelli Neri SpA
  • Woodfibre LNG Ltd

SIGTTO

  • BENEFITS OF
  • MEMBERSHIP

SIGTTO members are actively encouraged to promote membership when dealing with any new players in the industry. Please direct them to our website and to the London Liasion Office for further details of how to join.

In addition to the credibility in the industry that membership brings, SIGTTO members benefit by:

n Access to the Technical Advisers in the London Liaison Office who can give advice and obtain advice, on behalf of a member, from within the Society n Participating in discussion forums with other members each year on topics of particular and mutual interest n New members receive a copy n Access to information that is exclusive to members, such as casualty information and industry statistics n Regular updates on matters affecting the industry such as legislation, either new or pending, technical or operational developments n Access to the very comprehensive technical library maintained in the London Office n Submitting proposals for projects and studies to the General Purposes Committee of all publications, free of charge, produced by SIGTTO n Free access to the LNGwebinfo portal for updated LNG information as required to conduct compatibility studies. This information is restricted to members of SIGTTO and GIIGNL only

9

Ship-to-ship transfers for onward distribution are an integral part of LPG carrier operations

10

SIGTTO in Figures

Years

Panel
Meetings to date

since SIGTTO

Full and associate members

established

38

62

Weight of
Liquefied Gas Handling Principles 4th Edition

184

Countries with SIGTTO members

Major

55

Attendance at South Ameri

publications in last 2.5 years

2.5kg

5

can Regional Forum Buenos Aires Sept 16

Regional Forums scheduled for 2017

GPC members

110

11

34

SIGTTO Members’ Declared Assets

Total Number of

1025

Declared Assets
Number of
LPG Terminals

72

Number of

104

LNG Terminals
Number of

371

LPG Carriers Number of LNG Carriers

478

  • 0
  • 200
  • 400
  • 600
  • 800 1000 1200

Number of Declared Assets

11

SIGTTO History

SIGTTO grows with the gas carrier trades

From the outset, in the exploratory talks on the merits of a liquefied gas industry association, participants realised that the membership should encompass both ship and terminal operators

When the Society of International Gas Tankers and Terminal Operators was established as a new industry association, with 10 founder members, in October 1979, the LNG carrier fleet stood at 52 vessels. All the ships were engaged in shuttling between export and import terminals on dedicated routes and under long-term charters.

June 2017 the existing LNG carrier fleet welcomed its 500th ship. worldwide are keen to make use of competitively priced ethane as a feedstock and US export volumes are scheduled to reach the 15 million tonnes per annum (mta) mark by 2020. Such a volume would make ethane the fourth largest gas carrier cargo in volume terms, after LNG, LPG and ammonia.
In addition to conventional size vessels, the current LNG carrier fleet includes coastal distribution tankers, floating storage and regasification units (FSRUs) and multigas carriers able to carry LPG and a range of chemical gases as well as LNG. Also, the first dedicated LNG bunker tankers and the first floating LNG production (FLNG) vessel have entered into service over the past year.

SIGTTO origins

Although global seaborne movements of LNG had by then been underway for 15 years, the market was still in the early stages of development and struggling to gain a foothold at a time when oil dominated tanker shipping.
The origins of SIGTTO can be traced back to 1977 when a number of LNG carrier operators began to exchange correspondence on the merits of a possible industry association focused on ship safety and operational best practice matters of common concern.
The LNG and LPG sectors are currently amongst the most dynamic in shipping. Global seaborne movements of LNG in 2016 totalled 263.6 million tonnes (mt), a 7.5 per cent jump on a year earlier while LPG movements climbed 6 per cent, to 90.7 mt. Some 28 per cent of the LNG cargoes were fixed on a spot or short-term basis.
There were only six LNG exporting nations in 1979 and five importers. The US was unique in having a foot in both camps, exporting LNG from a small terminal in Alaska and receiving overseas cargoes at three East Coast facilities.
The initiative found favour and gathered strength, to the extent that a series of meetings was convened between December 1978 and March 1979 in order to discuss the need for and possible formation of such an association. El Paso LNG and Compagnie Nationale Algerienne de Navigation (CNAN) were amongst the shipowners driving the feasibility investigation forward.

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    A Question of Rigs, of Rules, or of Rigging the Rules? A Question of Rigs, of Rules, or of Rigging the Rules? Upstream Profits and Taxes in US Gulf Offshore Oil and Gas JUAN CARLOS BOUÉ With EDGAR JONES Published by the Oxford University Press For the Oxford Institute for Energy Studies 2006 OXFORD UNIVERSITY PRESS Great Clarendon Street, Oxford OX2 6DP Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship and education by publishing worldwide in Oxford New York Auckland Cape Town Dar es Salaam Delhi Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries Published in the United States by Oxford University Press Inc., New York © Oxford Institute for Energy Studies 2006 The moral rights of the author have been asserted Database right Oxford Institute for Energy Studies (maker) First published 2006 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of the Oxford Institute for Energy Studies, or as expressly permitted by law, or under terms agreed with the appropriate reprographics rights
  • Cng Transportation Utilizing Composite Pressure Vessels

    Cng Transportation Utilizing Composite Pressure Vessels

    CNG TRANSPORTATION UTILIZING COMPOSITE PRESSURE VESSELS Steven Campbell, Trans Ocean Gas Inc. INTRODUCTION The following paper describes an innovative method of CNG transportation. The method utilizes composite pressure vessels which are derived from the national defense / aerospace, and natural gas vehicle industries. The method overcomes all of the deficiencies anticipated from other proposed methods of CNG transportation that propose to use steel based gas containment systems. Existing container ships may be optimized through the use of the cassette gas containment system. The cassette system also isolates composite gas pressure vessels from ship-induced forces. Being modular, installation and removal of cassettes would be relatively easy. The cassette storage system will provide significant economic advantage over potential competitors commencing with a pilot project. This paper will conclude that The Trans Ocean Gas CNG Transportation Method offers a high level of safety, reliability, and economic feasibility. BACKGROUND The first Compressed Natural Gas (CNG) pilot project using steel pressure vessels mounted on the deck of a ship was conducted off the coast of New Jersey in 1966. It was concluded as not being feasible since the weight of steel pressure vessels required would be too heavy for the host ship to carry. CNG development then stagnated for thirty years. Over the past decade, the increased lucrative potential of CNG has renewed interest and spawned several innovative concepts. All but one proposed method use steel containment systems, which still have issues of safety, corrosion, excessive weight, and cost. All of the proposed methods using steel containment systems are requesting factors of safety less than that of the ASME code.
  • Scientific Rationale for the Movable Pipeline Technology for Transporting Cng by Sea

    Scientific Rationale for the Movable Pipeline Technology for Transporting Cng by Sea

    Management Systems in 2020, Volume 28, Issue 3, pp. 168-177 Production Engineering Date of submission of the article to the Editor: 01/2020 DOI 10.2478/mspe-2020-0025 Date of acceptance of the article by the Editor: 06/2020 SCIENTIFIC RATIONALE FOR THE MOVABLE PIPELINE TECHNOLOGY FOR TRANSPORTING CNG BY SEA Oleh MANDRYK, Volodymyr ARTYM, Mariana SHTOHRYN Ivano-Frankivsk National Technical University of Oil and Gas Valerii ZAYTSEV National University of Shipbuilding, Mykolaiv Abstract: A new efficient CNG module design for the transportation of natural gas by sea is proposed and substantiated. A mathematical model for determining the technical and economic parameters of a movable pipeline module, which is designed for transporting natural gas in a compressed state and consists of a frame structure, the dimensions of which correspond to the 40-foot marine container size and a pipe coil is described. To facilitate construction, it is proposed that a large portion of the coil be made in the form of a two-layer composite construction. The inner layer consists of standard steel tubes or adapters, and the outer layer is fiberglass wound on them. On the basis of the mathematical model an algorithm and a program were compiled, which allowed to determine the technical and economic parameters of the movable pipeline module. The results obtained for the Caspian region are analyzed. Key words: compressed natural gas, movable pipeline, parent vessel, marine freight INTRODUCTION be incorrect, as both technologies are designed to work The issue of transporting natural gas and using it as the effectively across gas transportation projects of different main energy source is extremely important.
  • WIDER Working Paper 2021/6-Capturing Economic And

    WIDER Working Paper 2021/6-Capturing Economic And

    WIDER Working Paper 2021/6 Capturing economic and social value from hydrocarbon gas flaring and venting: solutions and actions Etienne Romsom and Kathryn McPhail* January 2021 Abstract: This second paper on hydrocarbon gas flaring and venting builds on our first, which evaluated the economic and social cost (SCAR) of wasted natural gas. These emissions must be reduced urgently for natural gas to meet its potential as an energy-transition fuel under the Paris Agreement on Climate Change and to improve air quality and health. Wide-ranging initiatives and solutions exist already; the selection of the most suitable ones is situation-dependent. We present solutions and actions in a four-point (‘Diamond’) model involving: (1) measurement of chemicals emitted, (2) accountability and transparency of emissions through disclosure and reporting, (3) economic deployment of technologies for (small-scale) gas monetization, and (4) an ‘all-of- government’ approach to regulation and fiscal measures. Combining these actions in an integrated framework can end routine flaring and venting in many oil and gas developments. This is particularly important for low- and middle-income countries: satellite data since 2005 show that 85 per cent of total gas flared is in developing countries. Satellite data in 2017 identified location and amount of natural gas burned for 10,828 individual flares in 94 countries. Particular focus is needed to improve flare quality and capture natural gas from the 1 per cent ‘super-emitter’ flares responsible for 23 per cent of global natural gas flared. Key words: energy transition, gas, health, climate, air quality JEL classification: Q3, Q4, Q5 Acknowledgements: We would like to thank Tony Addison and Alan Roe for reading and commenting on an earlier version of this paper.