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G7 Backs LNG Investment Despite Climate Concerns

LNG

G-7 agrees to back LNG Investment to reduce dependence on Russian supply despite climate concerns.

  • G7 leaders supported temporary public investments in LNG projects as a necessary response to the current crisis. The backing is a change of stance after some projects previously faced opposition due to environmental concerns.
  • More than 20 European LNG projects have been announced or accelerated since March with 16 already reaching the final investment decision stage to increase European import capacity by 43% in 2026.
  • G-7 leaders are still conscious of international climate objectives with some LNG projects including options to handle climate-friendly hydrogen and green fuels in the future.
  • Investment is also taking place into LNG liquefaction with expansion projects in US and Qatar. The North Field expansion project in Qatar aims to increase LNG output by 64% by 2027 with investment partners of Exxon, Total, Shell and Conoco.
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