A surge of liquefied natural gas projects could generate emissions rivaling all coal power plants worldwide, raising fears over climate goals.
In short:
- A report from Reclaim Finance highlights $213 billion invested in liquefied natural gas (LNG) terminals, which could emit 10 gigatonnes of greenhouse gases by 2030.
- Global LNG capacity is projected to grow nearly 50% by the decade’s end, far outpacing demand and risking reliance on cheap fossil fuels over renewables.
- Critics argue banks and investors lack policies to curb LNG investments, undermining their climate commitments and threatening the Paris Agreement targets.
Key quote:
“Oil and gas companies are betting their future on LNG projects, but every single one of their planned projects puts the future of the Paris agreement in danger.”
— Justine Duclos-Gonda, campaigner at Reclaim Finance
Why this matters:
Expanding LNG infrastructure locks in fossil fuel dependency and increases methane emissions, a potent driver of climate change. Redirecting investments to renewables is essential to avoid surpassing global temperature thresholds.
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