More than double the volume of gas cut off due to the effective closure of the Strait of Hormuz is being wasted each year because countries are failing to deal with methane leaks and unnecessary flaring, the International Energy Agency said.
The IEA said about 20 per cent, or 110 billion cubic metres, of global liquefied natural gas passed through the strait last year.
It calculated that 100 bcm of gas could be made available annually through a global effort to cut methane escaping from oil and gas operations, and a further 100 bcm unlocked by eliminating non-emergency flaring.
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