Associated petroleum gas (APG) is of considerable interest and is one of the priority directions of development of the oil and gas industry. In this context, the problem of environmental safety of hydrocarbon gas extraction processes is being solved simultaneously. Burning of petroleum gas at the field in flaring stacks affects the ecosystem adversely and leads to economic losses. Special projects implemented by large oil and gas companies are aimed at reducing environmental and economic losses in the APG extraction process. This article discusses the mechanisms of economic and environmental assessment of the main modern trends of APG utilization. The measures that take account of the peculiarities of the chemical composition of APG when choosing the method of its utilization are presented. An integrated approach to assessment and determination of the effective methods of beneficial utilization of APG and production of high-value-added products is used to solve this problem.