Report issues ‘climate bomb’ warning over €202bn wave of new gas projects

LNG developers are planning 156 new LNG terminal projects worldwide to be constructed by 2030. File photo

A $200bn (€190bn) wave of new gas projects could lead to a “climate bomb” equivalent to releasing the annual emissions of all the world’s operating coal power plants, according to a report.

Large banks have invested $213bn (€202bn) into plans to build terminals that export and import gas that is chilled and shipped on ocean tankers. But a report has warned that they could be more damaging than coal power.