Iran Wastes $3.5bn a year in Gas Flaring

Deputy Oil Minister Mohsen Khojasteh Mehr has said that Iran loses at least 28 million cubic meters of natural gas due to flaring, wasting some $3.5 billion annually.

Addressing Iran’s first International Flaring Conference in Tehran, he said that in addition to the financial cost, the practice also damages the environment.

He urged the private sector to play a greater role in solving the problem.

A study in 2012 showed Iran ranked third, after Russia and Iraq, in the global flaring of natural gas.

(Source: Press TV)

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