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Jul, 2012

Environment: Ambitious project announced to avoid gas flaring

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September 20, 2012. – Omega Energy, a company engaged in the exploration and production of hydrocarbons mainly in Colombia, announced that it is working on an ambitious carbon-credits project based on –reducing methane gas emissions from the flaring of natural gas. The initiative, already verified and certified by Conestoga Rovers, could start in 2013.

“We have always been interested in generating carbon credits, first, to help the planet, because we recognize that releasing methane gas is 23 times more harmful to the atmosphere than producing CO2. Secondly, we see great opportunity in this business,” said Omar Leal, president of Omega Energy.

The company expects to produce more than 100 million cubic feet of natural gas. By avoiding the flaring of this gas, the company will generate carbon credits.,. “We want to build a ‘Made in Colombia’ model for tradable carbon credit and show it off to the world. This is going to be a big deal,” said Leal.

Omega Energy’s is pursuing this initiative not only in Colombia, but also in other countries where the company operates or where it could obtain subsidies and support in the future.

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