Big Spending Cements LNG in Energy Mix for Decades to Come
Hundreds of billions of dollars pumped into new gas plants in recent years will likely delay the shift away from fossil fuels.
Storage tanks at a Tokyo Gas Co. facility in Setagaya, Japan.
Photographer: Toru Hanai/Bloomberg
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, senior reporter Stephen Stapczynski looks at the impact of a deluge of investment in liquefied natural gas. To get this newsletter sent to your inbox, sign up here.
A huge wave of liquefied natural gas is about to flood a world that’s supposed to be transitioning away from fossil fuels.
More than $235 billion has been plowed into the next slate of projects for the super-chilled fuel since 2019. The first of those plants will come online later this year, and a further $55 billion may be invested through 2025, Rystad Energy forecasts show.