Environmental groups and climate scientists have issued dire warnings about a $200 billion wave of new natural gas projects, describing them as a looming “carbon catastrophe.” These investments, which include massive expansions of liquefied natural gas (LNG) terminals, pipelines, and drilling facilities, are concentrated in fossil fuel hubs such as the United States, Australia, Qatar, and Russia. Analysts estimate these projects could add over 1.1 billion tons of CO₂ equivalent emissions annually—roughly equal to the combined yearly emissions of Germany and Japan. These developments risk locking the world into fossil fuel dependency for decades, significantly undermining global efforts to limit warming to 1.5°C as outlined in the Paris Agreement.
The International Energy Agency (IEA) has repeatedly stated that no new fossil fuel projects are consistent with the pathway to net-zero emissions by 2050. Proponents argue that gas serves as a cleaner alternative to coal and a necessary bridge fuel for the energy transition. However, methane, the primary component of natural gas, has over 80 times the warming potential of CO₂ in the short term, and leaks from gas infrastructure remain a critical issue. Recent studies reveal that methane emissions are underreported and far more damaging than previously understood. Environmental advocates emphasize that the massive capital flowing into gas could instead accelerate investments in renewable energy and energy efficiency, which are not only cleaner but increasingly cost-competitive. Without decisive action, experts warn that this wave of gas projects could lock in irreversible climate damage for future generations. More