Wouldn't putting the execs of these companies in jail be an easy legal solution?

Yes I think you're touching on the real potential problem here which is that natural gas is many times a byproduct of petroleum extraction, for which we found a use/market.

I grew up in Alberta and there were already gas flares all over the place in the forest at the various oil wells that dot the landscape in the foothills.

I hope the economics of this work out, but I worry it will either just lead to flaring at drill sites or would not be pursued because it can't compete on cost.

At the same time, if you're e.g. Germany and have a gas shortage, and now you can just make it domestically using excess renewable power, and not rely on LNG or Russia... Amazing.