LNG Delivers Climate Solutions at COP28

Politicians and other energy experts are currently convening at the United Nation’s annual climate conference (COP28) to discuss the future of energy policy for billions of people worldwide. A key part of this year’s discussions is the energy transition and how reduce emissions on a global scale. Some U.S. energy executives have been touting Liquefied Natural Gas (LNG) as a realistic way to tackle emissions in developing countries and bolster U.S. energy security. Despite high hopes from environmentalists, renewables cannot yet meet global energy demand on their own. LNG allows countries a cleaner alternative to coal, wood, and biomass – keeping prices low and boosting the livelihoods of their citizens.

EQT Corporation’s Global CEO Toby Rice put it plainly, “The plan is very simple. Attack the biggest source of emissions on this planet, which is foreign coal, and transition the world from coal to gas.” LNG itself emits 50 percent less than coal, according to the U.S. Energy Information Agency.. Alongside a decrease in emissions, LNG is more accessible than renewables, lower in cost and already has the infrastructure built to increase supply and support the phaseout of coal around the world. Traditional fuels are necessary to support the operations of the majority of countries around the world and LNG provides a gateway to a cleaner future, alongside an opportunity to end energy poverty for all.

Another issue is that despite pledges to be carbon neutral, China keeps investing hundreds millions of dollars in new coal plants. In general, coal is growing two times faster than solar and wind, a complete disregard for global climate goals. In a report published by the Global Energy Monitor and the Centre for Research on Energy and Clean Air, China permitted two new coal power plants per week in 2022, a stark increase from the year before. China’s trend continues with more plants opening this year, harming global climate goals. U.S. LNG exports can help high-emitting countries phase out coal to reduce global emissions and support the world’s transition to cleaner energy.

As emissions continue to rise and nations fortify coal infrastructure, LNG should continue to be seen as a legitimate climate solution and on the agenda for global climate meetings like COP28. The world should strive to mitigate climate change responsibly by considering and solving complex global energy issues and deploying the tools we have accessible now.