Gazohim Texhno Was Included in World Bank Global Ranking of innovative technologies for gas conversion                     

Only two Russian companies have been included into the GGFR World Bank Global Ranking of FUEL CONVERSION SOLUTIONS related to the innovative technologies of gas conversion, including the Gazohim Techno.

The Global Gas Flaring Reduction Partnership (GGFR) of the World Bank Forum took place in Khanty-Mansiysk on September 9-10, addressed to reduction of associated petroleum gas flaring. Gazohim Techno company received a special invitation to the GGFR Forum and presented its solution in the audience of oil company representatives from 20countries worldwide.

The system of economic incentives for investment facilitating in the rational use of the associated petroleum gas (APG) has been implemented in Russia since 2013. On the one hand, significant fees are charged for APG flaring; on the other hand, the system implies preference schemes and postponement in compliance of the disposal target values equal to 95%. Upon completion of the grace period of a field development, payments for APG flaring may exceed 7,000 RUB/thous. m3.

The availability of special investment incentive mechanisms of APG rational use improves relative investment performance data of APG conversion projects in relation to proper projects of crude oil production. Consequently, the volumes of capital investments of oil companies according to the Ministry of Natural Resources of the Russian Federation have amounted to RUB 70.3 bn, RUB 75.5 bn and RUB 67.4 bn since 2013 to 2015.

The target value of 95% achievement is forecasted to be not earlier than 2020. This requires investment in APG conversion projects in the annual volume of 16 billion m3. In addition, the non-associated gas of gas condensate fields must be considered (about ~4 bn m3); as well as an APG production growth at new fields with coincident APG production decline at old fields (annual substitution of ~2 bn m3). The total investment market of an APG conversion is estimated to be more than 22 bn m3 per year.