Michael Sambasivam
@mikesamba.bsky.social
Politics and policy nerd
Climate Finance Analyst with @investors4paris.bsky.social
Climate Finance Analyst with @investors4paris.bsky.social
And the elephant in the room. LNG is not a "transition fuel".
This lens uses outdated assumptions regarding methane leakage. On a lifecycle basis, LNG is marginally less emissive than coal. LNG is as much as 33% higher emitting than coal.
7/8
This lens uses outdated assumptions regarding methane leakage. On a lifecycle basis, LNG is marginally less emissive than coal. LNG is as much as 33% higher emitting than coal.
7/8
December 4, 2024 at 5:09 PM
And the elephant in the room. LNG is not a "transition fuel".
This lens uses outdated assumptions regarding methane leakage. On a lifecycle basis, LNG is marginally less emissive than coal. LNG is as much as 33% higher emitting than coal.
7/8
This lens uses outdated assumptions regarding methane leakage. On a lifecycle basis, LNG is marginally less emissive than coal. LNG is as much as 33% higher emitting than coal.
7/8
Adding to that, our infrastructure costs are well above industry standard, with Woodfibre in particular comind in at about 2.5x global average.
Adding to that, midstream projects are not meeting budgets, with Coastal GasLink experiencing a 134% cost increase.
4/8
Adding to that, midstream projects are not meeting budgets, with Coastal GasLink experiencing a 134% cost increase.
4/8
December 4, 2024 at 5:09 PM
Adding to that, our infrastructure costs are well above industry standard, with Woodfibre in particular comind in at about 2.5x global average.
Adding to that, midstream projects are not meeting budgets, with Coastal GasLink experiencing a 134% cost increase.
4/8
Adding to that, midstream projects are not meeting budgets, with Coastal GasLink experiencing a 134% cost increase.
4/8
To start with some context, Canadian LNG is expensive to produce. McKinsey projects the breakeven needed to maintain viability is ~$9.45CAD.
No Canadian project is set to meet that benchmark.
3/8
No Canadian project is set to meet that benchmark.
3/8
December 4, 2024 at 5:09 PM
To start with some context, Canadian LNG is expensive to produce. McKinsey projects the breakeven needed to maintain viability is ~$9.45CAD.
No Canadian project is set to meet that benchmark.
3/8
No Canadian project is set to meet that benchmark.
3/8
LNG financing has grown rapidly over the last decade. RBC's LNG financing, in 2023, was over two and a half times that of its 2016 figure.
Canadian projects being financed, however, were proposed in an energy environment that no longer exists. Our new report explores that.
2/8
Canadian projects being financed, however, were proposed in an energy environment that no longer exists. Our new report explores that.
2/8
December 4, 2024 at 5:09 PM
LNG financing has grown rapidly over the last decade. RBC's LNG financing, in 2023, was over two and a half times that of its 2016 figure.
Canadian projects being financed, however, were proposed in an energy environment that no longer exists. Our new report explores that.
2/8
Canadian projects being financed, however, were proposed in an energy environment that no longer exists. Our new report explores that.
2/8
LNG expansion has been proposed as a silver bullet for Canada's energy sector, a 'transition fuel' to maintain our energy sector in the face of the energy transition.
The problem? Canadian LNG is:
- Not a transition fuel, and
- Not set to be competitive on the market.
buff.ly/3CV4JiF
🧵 1/8
The problem? Canadian LNG is:
- Not a transition fuel, and
- Not set to be competitive on the market.
buff.ly/3CV4JiF
🧵 1/8
December 4, 2024 at 5:09 PM
LNG expansion has been proposed as a silver bullet for Canada's energy sector, a 'transition fuel' to maintain our energy sector in the face of the energy transition.
The problem? Canadian LNG is:
- Not a transition fuel, and
- Not set to be competitive on the market.
buff.ly/3CV4JiF
🧵 1/8
The problem? Canadian LNG is:
- Not a transition fuel, and
- Not set to be competitive on the market.
buff.ly/3CV4JiF
🧵 1/8
"We have high speed rail at home"
The high speed rail at home:
The high speed rail at home:
November 27, 2024 at 7:42 PM
"We have high speed rail at home"
The high speed rail at home:
The high speed rail at home: