Since the start of the war in Ukraine and the redefinition of global gas trade, the world’s attraction has increased for liquefied natural gas (LNG) transported by ship between countries. More than 100 new gas terminals have already been built in the last two years and 156 more are planned around the world by 2030.
In its report titled “LNG: a climate bomb massively supported by banks and investors”, l’ONG Reclaim Finance accuses investors of prolonging global consumption of fossil fuels despite promises of carbon neutrality. The new liquefied gas terminals put into service could release the equivalent of ten billion tonnes of greenhouse gases, almost as much as all the emissions from coal-fired power plants in operation in the world, estimates the NGO.
Unavoidable leaks
As a result, an increase of almost 50% in LNG export capacity is on the horizon, forecasts the International Energy Agency, which represents much more than global demand. In addition to directly aggravating global warming, this overabundance of supply risks lowering gas prices and therefore slowing down the transition to clean energy in many countries which could decide to choose cheaper energy despite the risks for the planet.
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