Speakers
- Robert W. Howarth, PhD - Cornell University
- Jeffrey Jacoby – Texas Campaign for the Environment
- Justine Duclos-Gonda – Reclaim Finance
Liquefied natural gas (LNG) has come center stage over the last few years. Following the Russian invasion of Ukraine in February 2022 and the subsequent spike in gas prices, this fossil fuel has been presented by the oil and gas industry as the key solution to maintain gas supply while fulfilling the imperative of energy security. Markets, and particularly Europe, have thus been flooded by a growing amount of LNG, driven by exports from the US.
LNG export and import terminals have multiplied and LNG developers are planning to build many new facilities. As a report by Reclaim Finance recently showed, 156 new LNG terminal projects worldwide are planned by 2030 — 63 export terminals and 93 import terminals.
The International Energy Agency has stated for two years in its Net Zero Emissions by 2050 scenario that new LNG export terminals are unnecessary in a 1.5°C pathway. What’s more, LNG terminal projects have devastating consequences for nearby communities and ecosystems. Financial institutions can play a crucial role in ending this unleashed development.
In this webinar, we will explore the greenhouse gas footprint of LNG exported from the United States, based on a recent investigation by Prof. Robert Howarth. We will also examine the impact of the large-scale development of LNG export terminals in the US Gulf South on nearby communities and hear about the efforts of local groups mobilizing against these projects. Finally, we will discuss how financial institutions can play a role in addressing LNG expansion.
This webinar is intended for financial actors.
