‘Gold rush’ for gas production threatens to lock in global heating

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08.06.2022 - 11:45

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theguardian.com:

Countries around the world are pouring funds into new natural gas facilities that could destroy the chances of limiting global heating, in response to soaring energy prices and the war in Ukraine.

Governments including the US, Germany, the UK and Canada are investing in new gas production, distribution and use as they seek to sanction Russia over the invasion of Ukraine, according to new research.

The findings, from the Climate Action Tracker research initiative, show a dash for gas under way that will lock countries into fossil fuel use at a crucial time, when scientists have warned that a decisive turn towards lower-carbon alternatives within the next few years is the only way to stave off climate breakdown.

Niklas Höhne, of NewClimate Institute, one of the partners behind the Climate Action Tracker, said: “We’re about to witness a ‘gold rush’ for new fossil gas production, pipelines and LNG [liquefied natural gas] facilities, locking us into another high-carbon decade.”

The report highlighted the US, which has signed a deal to export additional LNG to the EU, through an increased effort on fracking. Germany and Italy have also signed deals with Qatar as a gas supplier, as has Egypt, the host of the world’s next climate summit, Cop27 in Sharm El-Sheikh this November.

Canada also plans new LNG production, fast-tracking construction to meet export demand. Overall, fossil fuel production has increased in Canada, the US, Norway, Italy and Japan, according to Climate Action Tracker.

The UK is also facing a massive expansion of oil and gas production in the North Sea, as the government has imposed a windfall tax on the industry that contains a loophole encouraging companies to invest in new production.

Developing countries are