Private finance must curb Europe’s LNG project boom

The document warns against the proliferation of LNG import terminals in Europe, arguing they will not solve the immediate energy crisis and will create long-term fossil fuel dependency. It calls on private financial institutions to deny funding for these projects to prevent carbon lock-in and mitigate methane emissions.

• Europe is experiencing a boom in LNG import terminal projects, with at least 16 new projects and 6 reactivated plans that could nearly double current import capacity from 235 bcm/year to 449 bcm/year.
• New LNG infrastructure is deemed an inadequate solution to the energy crisis because construction takes an average of 3.5 years, global gas markets are too tight to provide additional supply, and EU net import capacity would still exceed demand under 1.5°C scenarios even without Russian pipeline gas.
• The expansion of LNG infrastructure risks creating a carbon lock-in for 30 years or more, threatening the EU's goals of reducing emissions by 55% by 2030 and achieving climate neutrality by 2050.
• LNG increases methane emissions due to a complex supply chain with multiple leakage points, particularly when importing US shale gas, which is described as one of the worst in terms of methane emissions.
• Private finance is essential for these projects, citing examples such as the German onshore regasification terminals at Brünsbuttel and Stade, which require investments of $500 million and $580 million respectively.

APA

Martin, L. (2022). Private finance must curb Europe’s LNG project boom. Reclaim Finance. https://reclaimfinance.org/site/en/2022/09/26/private-finance-must-curb-europes-lng-project-boom/

Chicago

Martin, Léo. Private finance must curb Europe’s LNG project boom. Reclaim Finance, 2022. https://reclaimfinance.org/site/en/2022/09/26/private-finance-must-curb-europes-lng-project-boom/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Private finance must curb Europe’s LNG project boom |publisher=Reclaim Finance |date=26 September 2022 |url=https://reclaimfinance.org/site/en/2022/09/26/private-finance-must-curb-europes-lng-project-boom/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2022private, author = {Martin, Léo}, title = {{Private finance must curb Europe’s LNG project boom}}, publisher = {Reclaim Finance}, year = {2022}, month = sep, url = {https://reclaimfinance.org/site/en/2022/09/26/private-finance-must-curb-europes-lng-project-boom/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }