Well Power is all too familiar with the
challenges that gas flaring poses to the environment. In fact, it’s one of the
industry’s biggest concerns. There are 150 billion cubic meters of natural gas
being flared in the world each year representing an enormous waste of natural
resources. Furthermore, this contributes 400 million metric tons of CO2
equivalent global greenhouse gas emissions into the atmosphere.
The negative impact on the environment
relative to gas flaring adversely affects local populations and in many cases,
results in severe health issues. Annual global flaring is equal to about 30
percent of the total yearly gas requirements of the entire European Union, or
the yearly gas consumption of all residences in the United States.
Such problems are exactly what ongoing talks
between WPWR and MEC Resources are focusing their attention on. As a result of
an increase of flared gas in many states, Well Power is working with MEC
Resources to distribute a Micro-Refinery Unit (MRU) which it has licensed from
the company to Texas, North Dakota, Oklahoma, Wyoming, New Mexico and Colorado.
Well Power is engaged in the pursuit of MRU distribution due to the increase of
flared gas in these areas.
Well Power and MEC’s collaborative efforts in
developing the MRU is expected to result in the deployment of 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
50% of the flared gas in the United States. Beyond obvious health and
environmental concerns, flaring also results in the loss of billions of dollars
due to undervalued gases that could be captured as valuable end products are
lost into the air.
The reduction of gas flaring holds the
promise of an impactful environmental success story. For the oil and gas
industry, environmental compliance requirements continue to increase as a
result frequent environmental and public relations debacles. Finding the right
partnerships to eliminate flaring combined with efforts to shrink subsequent
flaring provides Well Power an opportunity to take a leadership role on energy
efficiency and sustainable resource development.
For more information on the company visit
www.wellpowerinc.com
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