Tanmay,
The usual term for what you call as 'cold flare' is 'cold vent'. What you are mentioning as 'hot flare' is basically burning of waste gases usually from an elevated flare emanating from various sources such as relief devices and vents from vessels / tanks in a plant or unit.
Cold vents require an elevated stack with the elevation being decided based on a combintaion of pressure drop (back pressure) in the vent system and the dispersion of waste gases to the atmosphere with minimum adverse impact on the surroundings.
Cold vent systems are no longer acceptable in many countries where environmental regulations prevent discharge of natural gas to the atmosphere because natural gas contains trace amounts of highly toxic compounds (mercury and aromatic cyclic compunds). Cold vents should be used only in remote and unpopulated areas subject to the local emission regulations. New installations for long distance natural gas pipelines envisages a mobile flare for remote loactions when planned pipeline depressurization operations are to be carried out.
Even flaring where burning is done to break up the natural gas to CO2 and water vapor is highly regulated these days due to uncontrolled release of greenhouse gases such as CO2 and nitrous oxides. The international community has introduced a new commodity called "Carbon Credits" which is to encourage reduction of emission of CO2 or other greeenhouse gases. Refer the link below to understand what "Carbon Credit" means:
http://en.wikipedia....i/Carbon_credit
To conclude, design of gaseous emission systems either cold (without burning) or with burning (flare) require careful consideration of environmental regulations related to where the system has to be installed.
Regards,
Ankur
Edited by ankur2061, 02 May 2014 - 09:48 AM.