Gas flaring reduction efforts progressing

The World Bank-led Global Gas Flaring Reduction partnership (GGFR) reports the global estimate for gas flaring has declined for a third consecutive year.

GGFR helps countries and companies to both implement gas-flaring reduction projects and seize opportunities to increase the utilization of associated gas.

“Our work in different countries, from Russia to Azerbaijan and from Nigeria to Mexico, illustrate this common effort of preparing for potential opportunities to improve energy efficiency, expand access to energy, and contribute to climate change mitigation hence promoting sustainable development,” GGFR said in a newsletter posted on its web site.

In December 2008, the GGFR held a Global Forum on Flaring and Venting Reduction in Amsterdam. Some 175 delegates from over 100 different organizations and 38 countries attended the Amsterdam event.

Numerous oil companies helped sponsor or sent delegates and speakers to the conference; They included Royal Dutch Shell PLC, Total SA, Chevron, ExxonMobil Corp., BP PLC, StatoilHydro ASA, and Petrobras.

Cleantech investment continues

Despite diminished fourth quarter results, venture capital funding continues in the clean technology category, said the Cleantech Group of San Francisco.

During 2008, cleantech venture investments reached a record $8.4 billion despite the credit crisis and broadening recessions. That total accounted for investments in North America, Europe, China, and India.

It was the seventh consecutive year of growth. Nicholas Parker, Cleantech Group executive chairman, remains optimistic despite the financial crunch.

"Now, more than ever, clean technologies represent the biggest opportunities for job and wealth creation," he said. "In 2009, we're going to see a lot of progress in terms of imagining what's possible, and consensus around the need to really take it up a gear."

Cleantech reports solar accounted for $3.3 billion of the cleantech VC investment last year followed by biofuels at $904 million. Transportation (electric vehicles, advanced batteries, fuel cells) was $795 million, and wind accounted for $502 million.

I wonder if the pattern of spending by major oil companies on alternative energy follow the VC distributions. My hunch is that the majors collectively are spending more on biofuels than on solar. Any comments from industry are most welcome.