Well Power knows gas
flaring is one of the most challenging energy and environmental problems facing
the world today. With 150 billion cubic meters of natural gas being flared in
the world each year, it represents an enormous waste of natural resources and
contributes 400 million metric tons of CO2 equivalent global greenhouse gas
emissions into the atmosphere.
Degradation of the
environment associated with gas flaring has a significant impact on local
populations, often resulting in loss of livelihood and severe health issues.
Annual global flaring is equivalent to about 30 percent of the total yearly gas
requirements of the entire European Union, or the annual residential gas
consumption in the United States.
These problems are
precisely what continuing discussions between WPWR and MEC Resources are
focused on. More specifically, Well Power is engaged with MEC Resources to
distribute a Micro-Refinery Unit (MRU) which it has licensed from the company
to the states of Texas, North Dakota, Oklahoma, Wyoming, New Mexico and
Colorado. Well Power is pursuing this arrangement due to the increase of flared
gas in these areas.
Well Power and MEC
continue to develop the MRU and plan to deploy the first test unit later this
year. While the MRU discussions are occurring, the amount of expelled gas in
states like Texas, North Dakota and Wyoming accounts for over half of the
flared gas in the entire country. Beyond obvious health and environmental
concerns, flaring also results in the loss of billions of dollars due to
undervalued gases that could be captured valuable end products are lost into
the air.
Gas flaring
reduction can be a significant environmental success story. For the oil and gas
industry, environmental compliance requirements continue to increase as a
result of recent events like the spill in the Gulf of Mexico. Finding the right
partnerships to eliminate flaring as we know it and efforts to minimize new
flaring provides the industry an opportunity to take a leadership role on
sustainable resource development and energy efficiency. For some governments,
flare reduction is an opportunity to create value from a wasted resource and
allow for wider access to energy, improved environmental conditions, and
economic development for local populations.
For more information
on the company, visit www.wellpowerinc.com
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