The New Gas Boom

The report identifies a massive global expansion of LNG infrastructure, with at least 202 terminal projects in development representing $1.3 trillion in capital outlays. This growth is heavily concentrated in North America, where the U.S. and Canada account for 74% of proposed new export capacity. The authors argue that this expansion risks creating stranded assets as renewable energy costs fall and that the lifecycle greenhouse gas impact of these projects is comparable to, or exceeds, that of new coal-fired power plants. Consequently, the report calls for a moratorium on new LNG construction to align with IPCC targets requiring gas use to decline by 2030 and 2050.

• The natural gas industry is attempting to transition from regional markets to an integrated global system through a massive increase in LNG vessels, floating offshore terminals, and portside infrastructure. This expansion involves at least 202 LNG terminal projects worldwide, consisting of 116 export and 86 import terminals.
• Global LNG export capacity expansion is heavily concentrated in North America. The United States and Canada account for 74% of all proposed new export capacity, with 352.7 million tonnes per annum (MTPA) under development in the U.S. and 281.6 MTPA in Canada.
• The total capital expenditure for LNG terminals under development is $1.3 trillion. North American export terminals represent 70% of this total, amounting to $914.5 billion. The top three countries by capital outlay for combined import and export terminals are the United States ($507 billion), Canada ($410 billion), and Russia ($86 billion).
• The expansion of LNG infrastructure faces significant stranded asset risks due to the falling costs of renewable energy. Unsubsidized solar PV and wind power are now cheaper or comparable in cost to natural gas peaking power and combined cycle gas turbines in several major economies, including the U.S., Australia, Brazil, India, South Africa, Japan, and Northern Europe.
• The lifecycle global warming impact of proposed LNG terminal capacity is roughly equivalent to that of proposed new coal-fired power plants when measured on a 100-year horizon. On a 20-year horizon, the impact of the LNG proposals exceeds that of the coal proposals by 25%.
• Current LNG expansion is incompatible with IPCC pathways for limiting warming to 1.5°C, which require natural gas use to decline by 15% by 2030 and 43% by 2050 relative to 2020 levels.

APA

Nace, T., Plante, L., & Browning, J. (2019). The New Gas Boom. Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/NewGasBoom2019_11.pdf

Chicago

Nace, Ted, Lydia Plante, and James Browning. The New Gas Boom. Global Energy Monitor, 2019. https://globalenergymonitor.org/sites/default/files/migration/reports/NewGasBoom2019_11.pdf.

Wikipedia

{{cite report |last1=Nace |first1=Ted |last2=Plante |first2=Lydia |last3=Browning |first3=James |title=The New Gas Boom |publisher=Global Energy Monitor |date=June 2019 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/NewGasBoom2019_11.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{nace2019new, author = {Nace, Ted and Plante, Lydia and Browning, James}, title = {{The New Gas Boom}}, institution = {Global Energy Monitor}, year = {2019}, month = jun, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/NewGasBoom2019_11.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }