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international news

EU LAWMAKERS VOTE TO PROLONG

FOSSIL FUEL GAS SUBSIDIES UNTIL 2027

ENVIRONMENTAL CAMPAIGNERS their approval, although they ruled out
ARE UNHAPPY WITH THE DECISION
access to EU grants for such projects.
Campaigners estimate between 50 and 70
natural gas projects could obtain “project
of common interest” status, an EU seal
of approval that helps plans get off the
drawing board, gain access to finance and
exemptions from EU competition rules.
The campaign group Global Witness
estimates that about 70 gas projects could
be eligible, producing 213 million tonnes
of CO₂ emissions a year, equivalent to
Germany’s coal burning in 2018.
The two controversial amendments
to the EU’s trans-European energy
infrastructure regulation were approved
by MEPs, barely three months after the
European Commission said the world
was entering “a make or break decade” to
tackle the climate crisis. The commission’s
EUROPEAN LAWMAKERS have voted hydrogen, reports The Guardian. original “Ten-E” text proposed sweeping
to prolong subsidies for fossil fuel gas Hydrogen, which can be made from away special status for all natural gas
until 2027. fossil gas or renewable sources, is seen projects as part of the union’s effort to
Members of the European by policymakers as a vital stepping stone hit net zero emissions by 2050.
Parliament’s industry committee to net zero emissions by 2050. In May, the International Energy
voted to allow the EU to continue The committee also voted to allow Agency said rich countries should
subsidising natural gas pipelines until natural gas projects, such as pipelines decarbonise electricity generation by
the end of 2027, as long as the energy and storage facilities, to be eligible 2035, while calling for an immediate stop
is mixed with an unspecified amount of for special status that will speed up to the approval of new oil and gas fields.

LNG GROWTH HELPS SUPPORT US GAS Other pipeline projects are designed
to bring gas to utility distribution
PIPELINE CONSTRUCTION THROUGH 2026 systems, power generation plants and
other end uses.
Venture Global LNG plans to build
just over 400 miles of gas pipelines
to serve its proposed Calcasieu
Pass, Plaquemines and Delta LNG
terminals, which would have a
combined production capacity of 50
million tonnes per year of LNG.
Tellurian Inc, meanwhile, has 323
miles of pipeline under development
for the planned Driftwood LNG
LLC terminal, anticipated to begin
construction in 2022. The company
LNG IS THE FOSSIL FUEL POISED TO HAVE also said it may buy up more acreage
THE BIGGEST EARNINGS ADVANTAGE
in the Haynesville Shale or enter into a
LNG EXPORT FACILITIES and their projected to come online over the business combination that would allow
demand for supplies will drive a large next five years, at least 16 are tied it to fill out its upstream portfolio.
portion of US natural gas pipeline to liquefaction terminals that are LNG is the fossil fuel poised to have
construction through 2026, according operating or under development the biggest earnings advantage as the
to an analysis of S&P Global Market on the Gulf Coast, with six export North American midstream sector’s
Intelligence data. facilities expected to begin great pipeline build-out cycle winds
Of the 45 pipeline projects commercial service in 2024 alone. down, according to analysts.

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