The contract means more than 13 million metric tons of CO2e emissions could be released every year. That’s equivalent to the annual emissions of roughly 3 million gasoline-powered cars.
The contract means more than 13 million metric tons of CO2e emissions could be released every year. That’s equivalent to the annual emissions of roughly 3 million gasoline-powered cars.
WASHINGTON DC (June 23, 2023)–Today, Venture Global announced a 20-year deal to provide Germany’s Securing Energy for Europe GmbH (SEFE) with 2.25 million tonnes per annum (MTPA) of methane gas – commonly referred to as liquefied gas (LNG) by the industry. This contract comes despite recent research showing that long-term gas agreements jeopardize the energy transition needed to achieve climate goals.
The reality is that most proposed US export projects would not be operational in time to address short-term energy shortages arising from the war in Ukraine. Most projects will only come online by 2026, far too late to respond to the current supply crunch. In this same timeframe, countries should invest heavily in building out renewable energy.
Anusha Narayanan, Global Project Lead at Greenpeace USA said: “It’s time for the world to wake up and realize that the gas industry – producers and operators – have used the crisis in Ukraine to spin U.S. and European priorities away from climate goals. We cannot afford these long-term contracts of methane gas if we want to preserve a habitable planet. Venture Global’s potential impact on communities in the Gulf of Mexico is already being scrutinized. The recently announced deal that Venture Global struck with Germany’s Securing Energy for Europe GmbH means more than 13 million metric tons of CO2e emissions could be released every year from gas production through end use, which is equal to the annual emissions of roughly 3 million gasoline-powered cars.”
Recently, Venture Global already needed to repair recently installed equipment such as heat recovery steam generators and leaks between welds.
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Calculation notes:
Emissions from Venture Global’s 20-year deal were estimated using a lifecycle emissions factor for LNG with a 20-year global warming potential (GWP) for methane, a short-lived greenhouse gas, based on values from a Carnegie Mellon study. Using a 20-year GWP better reflects the near-term warming effect of methane whereas governments and industry often use a 100-year GWP intended to reflect long-term warming. The estimate also assumes a 2-4% leak rate for methane. For a detailed comparison of lifecycle emissions studies and analytical assumptions, see NRDC’s Sailing to Nowhere report (2020). The EPA’s GHG Equivalency Calculator was used to convert the GHG estimate to equivalent emissions from gasoline-powered cars.
Contact: Tyler Kruse, Greenpeace USA Senior Communications Specialist, [email protected], 808-741-2791
Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.
