More than we currently use
Researchers complain that investments in liquefied gas are too big
11/10/2022 10:34 AM
After the outbreak of the war in Ukraine, many states quickly found an alternative to importing Russian gas into liquid gas. Contracts are concluded, terminals are built in record time. However, a study concludes that too much is being invested in the alternative – and that climate goals are being jeopardized.
In the current energy crisis, countries around the world are rapidly building a lot of liquefied gas infrastructure – but much more than is actually needed. This is shown by an analysis of the Climate Action Tracker, published by researchers at the world climate conference in Sharm el Sheikh.
The climate-damaging emissions from these new gas capacities therefore greatly jeopardize the goal of limiting temperature rise to 1.5 degrees from pre-industrial times. According to the data, the foreseeable oversupply of LNG could reach about 500 megatons as early as 2030. This is equivalent to almost five times the amount of Russian gas imported by the EU in 2021. And it is twice the total amount that Russia currently sells worldwide.
CO2 emissions would continue to rise
Bill Hare, head of the partner organization Climate Analytics, said there is a global run on LPG – in Europe, Africa, North America, Asia and Australia. If all projects were implemented, emissions of climate-damaging gases such as CO2 and methane would be pushed to even more dangerous levels. However, fossil fuels can never be the solution to the current climate and energy crisis.
Another result of the Action Tracker analysis: Even if all countries’ 2030 climate protection commitments are implemented, the Earth will still warm by about 2.4 degrees by the end of the century, according to researchers. On this point, the analyzes come to the same conclusion as at the climate conference in Glasgow a year ago. If you just look at what the states are doing now and ignore further announcements, the planet will warm by 2.7 degrees by 2100. According to calculations by the Intergovernmental Panel on Climate Change, emissions of climate-damaging greenhouse gases should be halved by 2030 to meet the 1.5-degree target.