Gran Tierra’s ongoing effort to reduce direct emissions by converting associated gas produced from its wells into an energy source for its operations, continues to generate results. Additionally, converting gas to electricity significantly reduces the demand on municipal utilities, increases fiscal resilience by lowering unit production costs, and provides a more stable energy supply, while reducing flaring and greenhouse gas emissions.
The Company’s Gas-to-Power (G2P) program has significantly reduced emissions intensity over the last few years by using produced natural gas to produce electricity, reduce flaring, and significantly reduce the need to purchase, transport, and burn diesel fuel. When excess power is produced, GTE can provide additional electricity to the local grid helping residents and stabilizing energy sources. 2023 saw a 19% increase in electricity generated from gas from GTE’s operations on local grids.
With all major fields fully converted, GTE has turned its attention towards generating gas power at its smaller locations and finding ways to implement this strategy at our fields in Ecuador.
| FIELD | GAS-TO-POWER (kWh) | GAS USED (scf) | SAVINGS (USD)1 |
|---|---|---|---|
| COSTAYACO2 | 91,238,243 | 959,778,000 | $8,545,240 |
| VONU5 | 9,993,809 | 98,946,000 | $1,206,570 |
| MOQUETA3 | 300,951 | 3,755,000 | $42,647 |
| ACORDIONERO4 | 126,651,761 | 1,491,286,000 | $16,575,935 |
| MONO ARAÑA6 | 479,341 | 17,745,000 | $59,006 |
| LOS ANGELES7 | 836,612 | 16,609,000 | $107,331 |
| COHEMBI8 | 14,767,928 | 80,922,000 | $1,635,278 |
| JUGLAR9 | 212,109 | 3,200,000 | $14,485 |
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View Footnotes
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1) TRM=$USD 4,100.
2) Savings calculated from gas generation Vs National Power Grid 640-256=384 COP/kWh (0,09366 USD/kWh). – CYC
3) Savings calculated from gas generation cost 581 COP/kWh (0,14171). In 2023, MQT G2P is exclusively used as generation support when occurs a failure in the national grid. For that reason there is not a cost associated to G2P. – MQT
4) Savings calculated from gas generation Vs Diesel generation 780-243=537 COP/kWh (0,13098 USD/kWh). – ACR
5) Savings calculated from gas generation Vs Diesel generation 751-256=495 COP/kWh (0,1207USD/kWh). – VNU
6) Savings calculated from gas generation Vs Diesel generation 1657-1152=505 COP/kWh (0,12317USD/kWh). – MAR
7) Savings calculated from gas generation Vs Diesel generation 744-218=526 COP/kWh (0,12828USD/kWh). – LAN
8) Savings calculated from gas generation Vs Diesel generation 1168-714=454 COP/kWh (0,11073USD/kWh). – CHB
9) Savings calculated from gas generation Vs National Power Grid 1024-744=280 COP/kWh (0,06829USD/kWh). – JGL