Measurement and testing by scientists has revealed that five per cent of the world's natural gas is being wasted, a GE Energy report shows.
The study, entitled Flare Gas Reduction: Recent Global Trends and Policy Considerations, finds that this level of natural gas is wasted by a process called flaring.
This means that unused gas is burned - an amount equating to 30 per cent of the EU's total consumption.
Some 400 metric tonnes of gas are lost each year due to flaring, which the report highlights is enough energy to power 77 million motor vehicles.
However, the research also illustrates that there is a way to reduce the level of waste.
These could include gas re-injection, pipeline development and power generation, the company claims.
"This fuel can be used to generate affordable electricity for the world's homes and factories," comments author of the study and program manager at GE Energy Michael Farina.
GE Energy harnessed its first power source in 1901 in the form of a steam turbine and now supplies energy across the world.
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