$10.4B latest · 2025
CALCULATED · 2025 · RUN 2026-10-04
What the gas Iraq flared in a year would cost to import, at that year’s European gas price. A replacement value, not lost revenue: capturing the gas costs money too.
THE STORY: BURNED, NOT USED →
VS PREVIOUS +9.8% HIGH · FULL RECORD $34.8B 2022 LOW · FULL RECORD $2.78B 2020 OBSERVATIONS 14
CHART RANGE RECENT 10Y FULL HISTORY $0 $10.0B $20.0B $30.0B $40.0B 2012 2015 2019 2022 2025 2012: $8.70B 2013: $9.23B 2014: $8.42B 2015: $6.80B 2016: $5.12B 2017: $6.49B 2018: $7.78B 2019: $5.04B 2020: $2.78B 2021: $13.7B 2022: $34.8B 2023: $11.5B 2024: $9.47B 2025: $10.4B $10.4B USD · 2025 · LATEST
THE SOURCE Iraq Monitor calculation (World Bank flaring estimates and pink sheet) Measured in USD Cadence yearly Tier calculated THE METHOD Gas flared in the year (bcm) × 36.02 million MMBtu per bcm × the year’s average European gas price ($/MMBtu, twelve monthly pink-sheet readings). The heat content is the World Bank’s own: 1,020 Btu per standard cubic foot, 35.315 cubic feet to the cubic metre.
READS What the same gas would cost to import, not money Iraq lost: capturing, cleaning and piping flared gas costs billions that this figure does not subtract. The European price is the import benchmark; at the US Henry Hub price it is a third as large or less, and Europe’s 2022 price spike inflates that year.
CITE THIS DATASET Iraq Monitor, "Flared gas, valued at the European import price," from Iraq Monitor calculation (World Bank flaring estimates and pink sheet), https://iraqmonitor.com/data/iraq_flared_gas_value_usd.