• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour Is Europe heading for winter of discontent with extensive gas shortages?
  • 6 hours Changing Gazprom ADRs to Russian shares
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 5 days "How China Could Send LNG Prices Into The Stratosphere" by Irina Slav
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
  • 7 days How Far Have We Really Gotten With Alternative Energy

Breaking News:

EIA Lowers U.S. Oil Production Forecast

LNG Emissions Are On The Rise In Africa

The biggest oil and gas corporations must do more to reduce their emissions from assets in Africa, with moves to address gas flaring and to cut emissions from planned and future LNG projects, Wood Mackenzie said in a report carried by Bloomberg.

Africa hosts some of the most polluting assets because of a lack of infrastructure to solve the gas flaring problem, Bloomberg notes.

“Reducing emissions and considering new energy diversification is really unavoidable,” WoodMac said in the report.

As investors want proof of solid efforts for emission reduction, international oil majors should work to address the problem in Africa, where new liquefied natural gas (LNG) projects are being planned.

New LNG projects would only be investable for banks and funding partners if they have plans to offset the emissions from the liquefaction process, according to Wood Mackenzie.

“Targeting full life-cycle emissions across the entire LNG industry is a big ask, but progress towards emissions reduction in the upstream, liquefaction and transportation of LNG is coming into focus and at the very least, proof or visibility of supplier carbon credentials will become the norm,” Gavin Thompson, Vice Chairman, Energy - Asia Pacific, at Wood Mackenzie, has said recently.

The future of gas investment is “lean, mean, and going green,” Thompson wrote last November.

Upstream producers and LNG developers have started to heed environmental concerns about natural gas as LNG buyers have increased their scrutiny of the carbon credentials of the cargoes they look to contract. Inevitably, the economics of future LNG projects will change. Developers will be looking (and they already are) to pitch their projects as a lower-emission facility than those of their rivals. At the same time, banks and other capital providers will agree to finance the construction of LNG facilities only if they are coupled with emission-reduction technology.  

By Michael Kern for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News