Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Natural gas boom on 'collison course' with climate goals
By Patrick GALEY
Paris (AFP) July 2, 2019

A global boom in natural gas pipelines and terminals is putting the energy industry on a "collision course" with the Paris climate goals, according to a new analysis of investment in the world's new favourite fuel.

More than 200 liquified natural gas (LNG) terminals are either under construction or in planning worldwide, mainly in North America, representing an outlay of $1.3 trillion (1.15 trillion euros) according to data compiled by an industry watchdog.

The Paris deal in 2015 saw nations commit to limiting global temperature rises to "well below" two degrees Celsius (3.6 Farenheit) and to a safer cap of 1.5C if possible.

To do so, scientists say the world must drastically slash its greenhouse gas emissions, a large proportion of which comes from burning fossil fuels for energy.

The Intergovernmental Panel on Climate Change says that the safest way to reach for 1.5C would involve an immediate drawdown in fossil fuels, including a 75-percent cut in the consumption of natural gas -- in all its forms -- by mid-century.

Yet gas is booming.

According to the International Energy Association, gas consumption rose 4.6 percent in 2018 alone, accounting for nearly half of the global increase in energy demand.

The surge was put down to ballooning production in the US and an insatiable demand for alternatives to coal in China.

Industry and many governments argue that LNG is a so-called "bridge fuel" between coal and renewables such as wind and solar.

But there is growing concern over the environmental cost of gas, for while it is better for the planet than coal, it also produces the potent greenhouse gases that are warming our atmosphere.

A report Tuesday by Global Energy Monitor said that the scale of LNG expansion currently unfolding around the world could have a potentially larger impact on global warming than the expansion of coal-fired power plants.

This is down to the amount of methane LNG produces when it is extracted and transported. Methane is more than 80 times more potent in the short-term than carbon dioxide as a greenhouse gas.

"The LNG boom is happening incredibly fast, just as methane is turning out to be a significantly worse actor than had been realised," said Ted Nace, executive director of Global Energy Monitor.

"Even today, there's still talk of natural gas as a bridge towards renewables, which is completely contrary to the facts."

- 'Locking in climate change' -

A growing body of evidence suggests that upstream oil and gas activities are incompatible with mankind's plan to avert runaway planetary warming.

A peer-reviewed study this week warned that future CO2 emissions from existing and proposed energy infrastructure would render the 1.5C limit unreachable.

It was published in the scientific journal Nature by a team of researchers from the United States and China.

In April the campaign group Global Witness said that any new investment in fossil fuel exploration was incompatible with the Paris goals -- and found that oil and gas majors planned to invest $5 trillion doing precisely in years to come.

Nace said all new pipeline investment risked being lost as the world transitions to greener energy solutions.

"The one piece of good news is that most of these projects are in the pre-construction stage, so there is still time for a moratorium on LNG infrastructure before we lock ourselves into even more irreversible climate change," he said.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Condemnations pour in over death of detained Venezuela navy officer
Caracas (AFP) June 30, 2019
The United States and Venezuela's opposition on Sunday condemned the death under "torture" of a naval officer detained for alleged trying to oust President Nicolas Maduro. Washington blamed Maduro for the death of Rafael Acosta Arevalo, which came amid a standoff between Venezuela's opposition chief Juan Guaido and the president that's stretched for more than five months. "The United States condemns the killing and torture of" Acosta, the State Department said in a statement. The officer "d ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Efficiently producing fatty acids and biofuels from glucose

NREL researchers to help ExxonMobil reduce future biofuels emissions

Researchers take two steps toward green fuel

New microorganism for algae biomass to produce alternative fuels

OIL AND GAS
Solar energy could turn the Belt and Road Initiative green

Special nanotubes could improve solar power and imaging technology

Perovskite solar cells tested for real-world performance in the lab

'Hot spots' increase efficiency of solar desalination

OIL AND GAS
Windmill protesters placed on Dutch terror list

Can sound protect eagles from wind turbine collisions?

UK hits historic coal-free landmark

BayWa r.e. sells its first Australian wind farms to Epic Energy

OIL AND GAS
Get your fax right: Bungling officials spark Japan nuclear scare

Framatome receives DoE GAIN voucher to support development of Lightbridge Fuel

World's second EPR nuclear reactor starts work in China

GE Hitachi begins vendor review of its BWRX-300 SMR with Canada's nuclear commission

OIL AND GAS
US pressuring G20 allies on climate language: French official

Thousands of big energy reps at UN climate talks: monitor

Health warnings and speed limits as Europe bakes in heatwave

Poland, Hungary want cash before agreeing to EU climate target

OIL AND GAS
Daimler recalls more cars over emissions cheating: report

Paris bans old diesels to tackle pollution

Uber buys AI firm to advance push on autonomous cars

Boost for space technology essential to keep UK in first place for future of auto industry

OIL AND GAS
Iraq sets up 'loophole' in US sanctions to buy Iranian power

Bahrain recalls Iraq envoy over Baghdad embassy protest

Suicide blast at Shiite mosque in Baghdad kills two: police sources

Betrayal, guilt, hate: post-IS, Mosul society still broken

OIL AND GAS
Iran won't exceed uranium stockpile limit on Thursday: diplomatic source

Trump, Kim exchanged 12 letters: S. Korea minister

Europe powerless as Iran nuclear deal unravels

China calls for 'calm' as US-Iran tensions rise









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.