Economic Evaluation of the Integration of Flare Gas Recovery System Using Aspen Hysys

Abstract Gas flaring remains a significant environmental and economic challenge in Nigeria, contributing to greenhouse gas emissions and the loss of valuable energy resources. This study presents an economic evaluation of a Flare Gas Recovery System (FGRS) using a compression and injection approach. The process involves compressing flare gas and injecting it into pipelines for reuse or market distribution. Aspen HYSYS is utilized for process simulation and optimization to determine the technical feasibility and energy requirements of the recovery system. The economic evaluation includes the capital expenditure (CAPEX) and operational expenditure (OPEX) of the FGRS and compares these costs with the economic losses and penalties associated with gas flaring in Nigeria. Key metrics such as Net Present Value (NPV) and payback period are employed to assess the profitability and viability of the recovery system. Additionally, the environmental benefits, such as reductions in carbon dioxide and methane emissions, are quantified to highlight the alignment of the FGRS with global sustainability goals. This study underscores the potential for FGRS to transform gas flaring liabilities into economic and environmental assets, aligning with Nigeria's regulatory frameworks and circular economy principles. The findings provide valuable insights for policymakers and industry stakeholders seeking sustainable solutions to address the flaring challenge in resource-rich regions.