Latest news with #GFMR
Al Etihad
02-05-2025
- Business
- Al Etihad
UAE hosts World Bank's Global Flaring and Methane Reduction Steering Committee Meeting
2 May 2025 18:05 ABU DHABI (WAM)The UAE hosted the World Bank's Global Flaring and Methane Reduction (GFMR) Steering Committee Meeting on April 29-30, 2025 at the Abu Dhabi Energy high-level meeting convened over 40 participants representing 12 countries and more than 25 international organisations, including ministerial delegations, national oil companies, multilateral development banks, and technical experts from across the global climate and energy UAE, as a founding member to the Global Flaring and Methane Reduction (GFMR) Partnership and the largest contributor with a $100 million pledge, reaffirmed its global leadership in tackling one of the most potent and short-lived climate pollutants: has over 80 times the warming potential of carbon dioxide in the short term, making its reduction one of the fastest and most effective ways to slow global warming. GFMR exists to confront this challenge by funding high-impact projects that eliminate routine flaring, and reduce methane emissions from oil and gas operations year's Steering Committee Meeting in Abu Dhabi served as both a checkpoint and a launchpad, reviewing the impact of existing interventions while shaping the next generation of financing, governance, and technology Balalaa, Assistant Minister of Foreign Affairs for Energy and Sustainability, and UAE Board Member for GFMR, led the UAE participation, which included senior representatives from the Ministry of Foreign Affairs, Ministry of Industry and Advanced Technology, and the Abu Dhabi National Oil Company (ADNOC), who championed calls for transparent funding, equitable regional allocations, and the integration of cutting-edge technologies such as AI-based methane detection and blockchain verification Balalaa underscored the UAE's conviction that methane mitigation is both a climate necessity and an economic opportunity. The UAE is committed to ensuring that the GFMR remains a high-impact, transparent, and future-proof initiative, aligned with the UAE Consensus and the goals of the Paris its part, ADNOC has announced the investment of $23 billion in landmark decarbonisation projects, supported by advanced technologies such as artificial intelligence, and is working towards near-zero methane emissions and zero routine flaring by UAE also announced its intent to propose a dedicated High-Impact Methane Regions Program at the next GFMR Steering Committee, aimed at accelerating implementation in underfunded geographies with the highest potential for rapid emissions reductions. This milestone meeting builds on the momentum of the UAE's climate diplomacy leadership, reinforcing its role as a driving force in global methane abatement.
The National
01-05-2025
- Business
- The National
UAE hosts World Bank meeting to curb global gas flaring by 2030
The UAE has hosted the World Bank's Global Flaring and Methane Reduction (GMFR) Partnership meeting as part of a global effort to drive down waste that could otherwise be converted to energy. The World Bank estimates that billions of cubic metres of gas are being released into the air annually due to flaring. This is the process of burning gas during oil production. The associated natural gas, composed mainly of methane, is often treated as waste and burnt or vented directly into the atmosphere. Putting a stop to flaring has environmental and economic benefits, said Zubin Bamji, the World Bank's GFMR manager. GFMR estimates global upstream gas flaring increased to 148 billion cubic metres (bcm) in 2023, up from 139 bcm in 2022. "It's about energy security and, at a time when many countries are looking for extra energy supplies, here we see one of the resources being wasted to the tune of billions of cubic metres every year," said Mr Bamji. "We estimate the amount of energy wasted through flaring alone could power the entire Sub-Saharan African continent." Ibrahim Al Zu'bi, Adnoc's chief sustainability officer, echoed this view, highlighting that it has been following a zero routine flaring policy for years and is now sharing its expertise with other national oil companies. A total of $250 million has been earmarked by the development bank, $100 million of which came from the UAE, to support those countries with the least capacity and resources to address these harmful emissions. The partnership is focused on providing grant funding, technical assistance, policy and regulatory reform advisory services, institutional strengthening, and mobilising financing to support action by governments and the industry. GFMR is active in at least dozen countries, which account for about a quarter of the oil and gas sector's methane emissions. In the Middle East, GFMR is helping Iraq, Egypt and Yemen identify opportunities and develop action plans to reduce emissions from oil and gas operations. The GFMR Partnership, launched at Cop28 and managed by the World Bank, offers technical assistance and financial support to countries and operators that commit to long-term methane reduction. The two-day steering committee meeting brought together representatives from countries such as Norway, Azerbaijan and Uzbekistan, as well as industry giants such as Shell, BP, Total Energies and Equinor. Sixteen projects from across the globe were reviewed, with particular focus on methane measurement, sensor deployment and regulatory alignment. "What impressed me was the diversity of progress," Mr Al Zu'bi said. "Some countries were just beginning the conversation on methane, others were already deploying sensors and tools. This diversity justifies the need for a collaborative platform like this." The UAE's role, he added, extends beyond funding. Adnoc sits on the GFMR's technical advisory group, helping assess project viability and providing support beyond finance, including in data, expertise and capacity building. The next phase of the partnership will involve expanding the number of countries involved, ensuring long-term financial sustainability of the fund and sharing success stories – particularly from smaller or newer producers. "This isn't about one company or one country," said Mr Al Zu'bi. "It's about building a global community committed to smart, sustainable energy practices." With 2030 fast approaching, the World Bank and Adnoc agree that the urgency is real but so is the opportunity.
The National
01-05-2025
- Business
- The National
Adnoc and World Bank join forces to curb global gas flaring by 2030
Adnoc is teaming up with the World Bank's Global Flaring and Methane Reduction (GFMR) team to drive down waste that could otherwise be converted into energy. The World Bank estimates that billions of cubic metres of gas are being released into the air annually due to flaring. This is the process of burning gas during oil production. The associated natural gas, composed mainly of methane, is often treated as waste and burnt or vented directly into the atmosphere. Putting a stop to flaring has environmental and economic benefits, said Zubin Bamji, the World Bank's GFMR manager. GFMR estimates global upstream gas flaring increased to 148 billion cubic metres (bcm) in 2023, up from 139 bcm in 2022. "It's about energy security and, at a time when many countries are looking for extra energy supplies, here we see one of the resources being wasted to the tune of billions of cubic metres every year," said Mr Bamji. "We estimate the amount of energy wasted through flaring alone could power the entire Sub-Saharan African continent." Ibrahim Al Zu'bi, Adnoc's chief sustainability officer, echoed this view, highlighting that it has been following a zero routine flaring policy for years and is now sharing its expertise with other national oil companies. "We don't just fund this work, we're helping identify technical solutions, mentor emerging producers and support project design so countries can access these grants," he said. A total of $250 million has been earmarked by the development bank, $100 million of which came from the UAE, to support those countries with the least capacity and resources to address these harmful emissions. The partnership is focused on providing grant funding, technical assistance, policy and regulatory reform advisory services, institutional strengthening, and mobilising financing to support action by governments and the industry. GFMR is active in at least dozen countries, which account for about a quarter of the oil and gas sector's methane emissions. In the Middle East, GFMR is helping Iraq, Egypt and Yemen identify opportunities and develop action plans to reduce emissions from oil and gas operations. As host of this year's GFMR steering committee meeting, Adnoc, in collaboration with the Ministry of Foreign Affairs, welcomed government representatives and oil companies from around the world to Abu Dhabi this week. "Adnoc is not only a founding member of the GFMR Partnership, we're also its largest donor," Mr Al Zu'bi told The National. The GFMR Partnership, launched at Cop28 and managed by the World Bank, offers technical assistance and financial support to countries and operators that commit to long-term methane reduction. The two-day steering committee meeting brought together representatives from countries such as Norway, Azerbaijan and Uzbekistan, as well as industry giants such as Shell, BP, Total Energies and Equinor. Sixteen projects from across the globe were reviewed, with particular focus on methane measurement, sensor deployment and regulatory alignment. "What impressed me was the diversity of progress," Mr Al Zu'bi said. "Some countries were just beginning the conversation on methane, others were already deploying sensors and tools. This diversity justifies the need for a collaborative platform like this." The UAE's role, he added, extends beyond funding. Adnoc sits on the GFMR's technical advisory group, helping assess project viability and providing support beyond finance, including in data, expertise and capacity building. The next phase of the partnership will involve expanding the number of countries involved, ensuring long-term financial sustainability of the fund and sharing success stories – particularly from smaller or newer producers. "This isn't about one company or one country," said Mr Al Zu'bi. "It's about building a global community committed to smart, sustainable energy practices." With 2030 fast approaching, the World Bank and Adnoc agree that the urgency is real but so is the opportunity.
