New technology for Bahrain's gas industry to save $300m
Manama, March 13, 2014
Bahrain could save up to $300 million a year in the energy sector with the implementation of new technology.
Gas Recapture Systems president Albert Cerenzie told the GDN his company's technology will boost profits and alleviate environmental concerns.
Oil and gas companies usually flare off waste gas, which causes pollution and serve environmental concerns, which Cerenzie said amounted to up to $10.2 billion in healthcare in the Middle East, reported the Gulf Daily News (GDN), our sister publication.
"What is currently happening is that oil and gas companies are flaring off waste gas," he said.
"This is causing huge environmental and health-related side effects.
"A report we conducted found that it is costing the Middle East $10.2 billion a year in healthcare costs, with an increase in asthma and cardiovascular among others.
"Our technology allows the recapture of propane by converting the waste gas stream to a liquid, emissions are eliminated.
"The propane captured can be sold for huge costs."
He was speaking on the sidelines of the summit yesterday.
Cerenzie said based on the number of flares they had seen, Bahrain was burning off $900,000 worth of by-products per day.
"Based on the flares that we've seen, I would say that they're burning an average of $150,000 at least per flare," he told the GDN.
"Because instead of capturing the by-product and selling it, you're wasting it."
Canada GCC Advisors chief executive Ara Albert Khatcherian said it was important to capture the gas.
"It's important to capture the gas because it's part of the natural resources of the country," he said.
"But burning that gas is burning the money and bringing acute health side effects with it." - TradeArabia News Service