The United States is investing 507 billion USA dollars in expanding or building new LNG terminals to ship its gas to Asian markets, where there is a growing demand for non-fossil fuel to harness climate change problems, said the report issued by Global Energy Monitor, a non-governmental pro-climate organization based in San Francisco.
For one aspect, doubtlessly the newest growth flies within the face of worldwide agreements to slash natural gas command, talked about Browning, and while the original US authorities has repudiated these commitments, to this level, Canada has no longer.
According to France 24, industry watchdog, Global Energy Monitor writes that the explosion in investment on planned new liquefied natural gas (LNG) facilities and pipelines, a lot of them centered in the US and Canada, along with new estimates for leakage from the LNG supply chain called fugitive gas, means that LNG is on its way to becoming "the new coal".
The report says that puts the world on a "collision course" with the goal set by the Paris Accord.
As a replacement, the unusual prognosis from Global Energy Video show, a neighborhood smartly identified in vitality circles for keeping computer screen of coal plant development in Asia, sounds a warning, no longer right for the local weather nonetheless for investors in what it calculates as a unstable $1.3 trillion U.S. worth of world gas infrastructure.
That accord, signed by every country in the world, commits to trying to keep global warming to as close to 1.5 C as possible compared to pre-industrial levels.
It is a common belief that natural gas, which emits only half the greenhouse gases as dirty coal, is a greener alternative.
Nace stated that natural gas can now not credibly be seen as a bridge fuel between coal and renewables due to methane leaks.
Ted Nace founder and director of the Global Energy Monitor said that it is a known fact that LNG is not a viable option climate-wise.
Ontario, which phased out its coal-fired generators as of 2014, did so by adding new gas generators as well as nuclear and renewable sources.
"However, a full life cycle comparison of both natural gas and coal requires also including the effect of leakages in natural gas production and transportation, since methane (CH4), the main component of natural gas, is a far more powerful global warming gas than carbon dioxide". The current Canadian government has just issued new regulations to increase the carbon levy on any new LNG plans built after 2021 to discourage development.
Crucially, the report estimated that the emissions contribution of natural gas developments now underway is equal, or greater than the expansion of coal-fired generation.
Natural Resources Canada says 18 LNG projects are proposed in Canada, 13 in British Columbia, two in Quebec and three in Nova Scotia.
The newly released report titled The New Gas Boom provides a fresh analysis of the $1.3 trillion being invested in this global gas expansion - including where the money is being invested and the pipelines and facilities being constructed.
"LNG has tremendous potential to lower global emissions while also growing the Canadian economy", Scheer said on June 19.
Isabelle Turcotte, federal policy director at the Pembina Institute, said the idea that natural gas is a solution for climate change is "a fallacy".