SOURCE: The Guardian
DATE: July 2, 2019
SNIP: The booming liquefied natural gas (LNG) industry will play at least as big a role as new coal investments in bringing on a climate crisis if all planned projects go ahead, US-based energy analysts and campaigners say.
The Global Energy Monitor, formerly known as CoalSwarm, is a US-based research and advocacy group that tracks fossil fuel development. It found there were US$1.3tn in planned LNG investments across the globe, including nearly $38bn in Australia, putting it fourth on a list behind the US, Canada and Russia.
Ted Nace, the group’s executive director, said the proposed tripling of global LNG capacity risked introducing decades of emissions of methane, a potent and difficult-to-monitor greenhouse gas, at odds with the Paris climate agreement. The Intergovernmental Panel on Climate Change last year estimated methane emissions would need to be reduced by 35% between 2010 and 2050 to meet the Paris goals.
Natural gas is at times described as a transition fuel in the response to the climate crisis as it has about half the carbon dioxide emissions of black coal when burned to generate electricity. That argument has been rejected by the head of the International Energy Agency and science bodies warning the world needs to rapidly move to clean energy and industries.
Nace said it was difficult to compare emissions from coal and gas given their different nature. Gas has lower CO2 emissions than black coal when burned for electricity, but LNG developments also leak methane, which is a relatively short-lived gas that lasts in the atmosphere about 12 years but still has a warming power about 28 times greater than the same amount of CO2 when calculated over a century.
Global Energy Monitor researchers found fugitive methane emissions from new LNG extraction and processing would be expected to have as large or larger global heating impact than proposed coal power expansion.