A document has revealed that climate ministers from the Group of Seven nations may argue in support of additional investments in gas supplies despite predictions that such investments would undermine worldwide agreed-upon climate change goals.
Climate change and energy ministers from G7 nations are expected to meet on April 15-16 in Sapporo, Japan, to discuss efforts to address climate change.
According to a draft of the G7 statement, ministers would concur that further upstream gas investments were required due to the energy consequences of Russia’s invasion of Ukraine.
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Recall that last year, Russia reduced its gas shipments to Europe, which resulted in a global supply shortage and skyrocketing prices on international markets.
“In this context, in this particular contingency, we recognize the need for necessary upstream investments in LNG (liquefied natural gas) and natural gas in line with our climate objectives and commitments,” the draft statement said.
It was gathered that the draft is still being negotiated by the G7 countries, and may change significantly before it is adopted.
Story was adapted from Climate Home News
