Managing Gas Flaring and Allied Issues in the Oil and Gas Industry: Reflections on Nigeria

Abstract

The level of gas flaring attributable to the international oil and gas industry is without a doubt very significant. This realization, has led to a global reaction to reduce gas flaring volumes in the light of the adverse environmental, economic and social consequences connected with the high incidence of gas flaring. Hence, the approach being adopted to achieve a manageable level of gas flaring is as diverse as the respective countries that contend with this peculiar problem. The direction thus far, has been to address the gas flaring dilemma on a national, regional and international platform. Gas flaring cannot be construed in isolation, and as a consequence its consideration, has also brought to the fore matters related to environmental protection. Moreover, gas flaring has been identified as a process that damages the ozone layer, and thus contributing to escalating the global warming phenomenon. Amongst others, this notable finding has further stimulated domestic and international initiatives aimed at curbing the adverse effects of gas flaring. In Nigeria's case, there is an apparent incentive to mitigate the incidence of gas flaring in view of; the country's heavy reliance on oil and gas revenues, as well as the identifiable policy adjustments that need to be achieved on a sustained basis.