Global Gas Flaring Hits 17-Year High, Wasting Energy Worth Up to $63 Billion

Global gas flaring rose sharply in 2024, hitting 151 billion cubic meters (bcm), the highest level since 2007, according to the World Bank’s Global Gas Flaring Tracker Report. This marks a continuation of the upward trend that began in 2023 and represents an 8 bcm increase over 2012, despite longstanding efforts to curb the practice.

Flaring intensity which is the volume of gas burned per barrel of oil produced has remained largely unchanged for the past 15 years, halting the earlier progress that had seen gas flaring decoupled from oil production.

The report highlights that the waste of associated gas through flaring comes at a time of rising global energy security concerns and ongoing struggles to provide reliable energy to more than half a billion people in developing countries. The volume of gas flared in 2024 is roughly equivalent to Africa’s entire annual gas consumption and resulted in 389 million tonnes of carbon dioxide equivalent emissions, worsening both climate change and local air pollution.

Economically, the losses are staggering. Based on 2024 gas prices, the value of this wasted gas is estimated between US$19 billion and US$63 billion, more than half the US$70 billion investment needed to align flaring reductions with the International Energy Agency’s Net Zero Emissions by 2050 Scenario.

The concentration of flaring among top producers has intensified. The world’s top nine flaring countries, that’s Russia, Iran, Iraq, the United States, Venezuela, Algeria, Libya, Mexico, and Nigeria now account for 76% of global flaring, up from 65% in 2012. The combined share of Russia, Iran, and Iraq alone has grown from 33% to 46%, flaring over 22 bcm more than in 2012. Russia and Iran have seen steady increases in flaring volumes, while Iraq’s levels have remained largely unchanged since 2016.

In contrast, some other major producers, including Angola, Egypt, Indonesia, and Kazakhstan, have successfully reduced their flaring volumes and intensities. The United States stands out with a nearly 50% drop in flaring intensity since 2012, one of the lowest globally. Nigeria, despite remaining in the top nine, flared less gas in 2024 compared to 2012.

Countries endorsing the World Bank’s Zero Routine Flaring by 2030 (ZRF) initiative have made more progress. While their flare volumes decreased only marginally, their average flaring intensity fell by 12%, a significant improvement over the global average, where intensity fell by just 1%. Non-ZRF countries now have flaring intensities 25% higher than in 2012.

Experts warn that unless urgent action is taken, rising flaring threatens both climate goals and energy security. The World Bank says redirecting wasted gas toward energy access could power entire regions, reduce emissions, and generate billions in revenue currently lost to the flare stacks.

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