Re:Liquefied natural gas carbon footprint is worse than coal
by abdullahkhalids on Friday October 04, 2024 @04:02PM
(#41745071)
> The bad news is that renewables, batteries, and transmission must ramp much faster to destroy demand for this shipped energy in the markets currently importing and consuming LNG.
It's not simple. If a country/company has made capital investments in LNG procession or consumption (say an LNG electric power plant), they will want to get their returns on that investment. If the prices of renewables are much lower than LNG, then, those plants will not be able to sell their electricity, and go bankrupt.
But that doesn't mean a loss of the capitalists. Many global south countries have built plants using foreign loans that will need to be paid whether the plant produces or goes bankrupt. So many countries will attempt to keep these LNG plants going for as long as possible.
Re:Liquefied natural gas carbon footprint is worse than coal
by toomuchtodo on Friday October 04, 2024 @04:09PM
(#41745117)
It’s true, and unfortunate for unsophisticated investment into fossil fuel assets that will likely end up stranded.
https://www.reuters.com/markets/commodities/us-lng-export-do... ("Reuters: US LNG export dominance tested as Europe's demand wilts")
https://www.eia.gov/todayinenergy/detail.php?id=61683 ("EIA: The United States was the world’s largest liquefied natural gas exporter in 2023")
> The countries that imported the most U.S. LNG were the Netherlands, France, and the UK, with a combined 35% (4.2 Bcf/d) of all U.S. LNG exports. LNG imports increased in the Netherlands after the Gate LNG regasification terminal was expanded and two new floating storage and regasification units (FSRUs) were commissioned. Germany began importing LNG in 2023 when three new FSRUs were commissioned. We expect another four terminals (three of which are FSRUs) to come online between 2024 and 2027.
Due to the EU pricing GHG emissions, this is likely to update and send price signals against LNG consumption (based on updated LNG emissions impact information available).