This signifies that significant barriers remain that hinder flare project implementation. The global level of flaring is 10% higher than Russia’s gas exports to the EU in 2021.
The most important part of flare projects of existing methodologies that can earn carbon credits by us are treated flare gas brought to a pipeline for transport and end-use consumption. The project revenues come from gas and carbon credit sales. The carbon credit revenues are typically as large as or larger than gas sales revenues. This means that carbon credit project development often, but not always, is effective in eliminating financial barriers to project implementation.
The challenge with flare projects is that they can be complex and hence require careful planning and documentation in order to qualify as High-Quality Carbon Credit ventures.