Frigyes Lestak, CEO of Flare2Value International, talks to TOGY about the company’s current operations, why Oman is an attractive market and different sources of funding for unique endeavours. F2V created a technology that converts flare gas to other marketable gases and is introducing it in the Omani market.
• On a new business model: “It is our view that for the large number of small/medium-sized flares, we need a different business model. Flare abatement ought to be farmed out to specialised companies that develop projects and own and operate associated gas monetisation plants. Second, we ought to keep solutions simple and replicable. We cannot have a bespoke solution for every flare, or every site. We have too many to deal with.”
• On Oman’s role: “In years to come, Oman could become a centre of excellence for flare abatement, supported through small, agile companies that turn out high-quality results. I am convinced that one day Oman will export flare abatement services to the region and beyond.”
