Having nearly half-a-trillion dollars of gas pipelines in development makes no sense economically since many of these projects will become stranded assets as we transition to renewables. The gas industry and countries led by China, India, Russia, Australia, the U.S., and Brazil are pushing ahead with plans to commission tens of thousands of kilometers of gas pipelines in 2022. Planned expansion of the global gas pipeline network—70,889 kilometers or 44,048 miles in construction and another 122,477 km or 76,104 miles in pre-construction development—creates a $485.8 billion stranded asset risk, and jeopardizes the chances of meeting the Paris agreement’s goals. In the U.S. there are pipelines costing an estimated $47.6 billion being developed, and the U.S. is expected to become the world’s leading exporter of gas in 2022.
www.commondreams.org/news/2022/02/22/global-gas-pipeline-boom-poses-climate-financial-disaster