Main challenges of fully monetising natural gas resourcesHow to fully monetise natural gas? What are the main challenges of this process? Are there any real examples of such projects? Regina Chislova, Project Director of Exploration and Production Oil Congress Hub 2019 tells Oilfield Technology about it.
In general, at many oil facilities, the associated gases (APG) contained in oilfields are monetised or used for oil operations, and any excess of it is exported or pumped back into the reservoir and then flared. In offshore fields and old facilities, there is not the infrastructure for utilisation or evacuation of gas, so the surplus hydrocarbon gas is flared. For example, Nigeria is currently ranked 9th in the world on natural gas reserves but has continually flared most of its excess gas.This year Exploration and Production Oil Congress Hub 2019 is hosted by Hellenic Petroleum. Yannis Grigoriou, Hellenic Petroleum's CEO, prepared a special invitation for other oil and gas companies. The list of participants already includes the representatives of BP, Eni S.p.A and Shell.
However, after toughening the environmental regulations for flaring gas, producers have had to look for ways to monetise natural gas resources in offshore locations.
The most popular options for monetisation of gas resourcesIn a search for the best economic solutions, they are trying to keep up with the latest trend – to use hydrocarbon resources in different ways and reduce the impact on the environment. Therefore, such options as oilfield injection, power generation, export via LNG, export via pipeline, and petrochemical products are the most popular among them. The selection of a suitable gas monetisation option is not only based on the resource size, but it is also influenced by the volume and quality of the gas resource, its location, and capital costs.
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