at the time that the government felt the deal was “not aligned with France’s environmental project and environmental vision.”with NextDecade for deliveries of some 1.75 million tons of liquefied natural gas—that same gas that the French government had misgivings about two years ago. And this is only the beginning.
“Investment in this sector is necessary in response to the current crisis,” the leaders of the world’s seven biggest economies said in a statement, asby Bloomberg, noting that this is temporary and the projects would need to be aligned with climate objectives to gain their support. It is easier said than done, however, because new LNG capacity—not to mention new gas exploration before production—takes time to build. Take Germany, for example. The European Union’s largest economy suddenly developed a taste for liquefied natural gas after the Russian invasion of Ukraine and started talking about building import terminals.To date, construction has yet to start despite the sense of urgency the German government has been demonstrating since March.
There is a bigger problem, however. Governments have a way of making the projects they favor happen, especially if the energy supply situation is tight and the projects’ approval is urgent. That leaves the much bigger question of where the gas will come from.