GAS BUBBLE 2022

The report identifies over 300 LNG projects in pre-construction and construction phases globally, with an estimated cost of US$797 billion. It highlights that the United States has become the world's leading LNG exporter in the first half of 2022 and hosts nearly half of all global export capacity under development. The document argues that this build-out contradicts international climate goals, risks creating stranded assets, and undermines U.S. national interests by increasing domestic energy prices and harming disadvantaged communities on the Gulf Coast. It further contends that 'clean' LNG proposals, such as carbon capture and storage (CCS) or hydrogen repurposing, are insufficient to address the full life cycle emissions of the fuel.

• The global LNG build-out is extensive, with over 300 projects in pre-construction and construction phases estimated to cost US$797 billion. These projects represent 682 million tonnes per annum (mtpa) of import capacity and 779 mtpa of export capacity.
• The United States is the primary driver of global LNG export growth, accounting for 323 mtpa of export capacity in development, which is 41% of the global total. Since February 2022, U.S. progress has accelerated with two projects reaching final investment decisions (FIDs) and 32 binding sales and purchase agreements (SPAs) totaling 34.6 mtpa of contracted capacity.
• Demand from Europe and Asia drives the majority of new LNG infrastructure. Europe has 165 mtpa of import capacity in development, while Asia has 442 mtpa. Together, these regions account for nearly 90% of global import capacity under development.
• Expanding U.S. LNG exports may negatively impact domestic consumers by increasing gas prices. The report notes that U.S. gas prices doubled over the last three years as exports doubled, and prices fell by 12% in June 2022 immediately after the Freeport LNG Terminal fire.
• The report argues that 'clean' LNG initiatives, including carbon capture and storage (CCS), are ineffective because liquefaction only accounts for approximately 7.4% of the total life cycle emissions of U.S. LNG exports.
• New LNG infrastructure faces significant risks of becoming stranded assets. The IPCC suggests that limiting warming to 2C could result in US$4 trillion in stranded fossil infrastructure assets by 2050.

APA

Rozansky, R., & Langenbrunner, B. (2022). GAS BUBBLE 2022. Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_USGasBubbleReport2022_35.pdf

Chicago

Rozansky, Robert, and Baird Langenbrunner. GAS BUBBLE 2022. Global Energy Monitor, 2022. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_USGasBubbleReport2022_35.pdf.

Wikipedia

{{cite report |last1=Rozansky |first1=Robert |last2=Langenbrunner |first2=Baird |title=GAS BUBBLE 2022 |publisher=Global Energy Monitor |date=October 2022 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_USGasBubbleReport2022_35.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rozansky2022gas, author = {Rozansky, Robert and Langenbrunner, Baird}, title = {{GAS BUBBLE 2022}}, institution = {Global Energy Monitor}, year = {2022}, month = oct, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_USGasBubbleReport2022_35.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }