New mapping project reveals surge in LNG expansion
The world is facing an unprecedented boom in LNG development according to a new mapping project launched today, with 279 new LNG projects planned around the world (1). Backed by global banks, this is driving gas expansion and will add billions of tons of greenhouse gas emissions, destroying any hope of achieving global climate goals.
It also threatens the health and wellbeing of local communities and impacts biodiversity. The organizations behind the new “ExitLNG” 1 website are urging the banks involved to withdraw their support.
Plans to build 279 new liquefied natural gas (LNG) projects are identified in a new online map showing the extent of countries impacted by LNG expansion 2. The site also highlights the companies involved, the banks that finance them, and the risks for communities and biodiversity.
It shows that the United States is dominating the boom in LNG exports, accounting for 40% of the increase in planned export capacities (38 projects), driven in part by US President Donald Trump’s fossil fuel agenda, followed by Russia (20%, 18 projects) and Qatar (8%, 3 projects). The highest number of planned import facilities are in the Asia Pacific region, with the most terminals in China (34% of the increase in planned import capacities, 49 projects), followed by India (8%, 11 projects) and Vietnam (7%, 14 projects).
Final investment decisions for new export terminals have surged in 2025, adding to the expected wave in gas supply, according to the International Energy Agency (IEA) 3, driving the development of new gas fields 4 and threatening international targets to limit average global temperature rise to 1.5° centigrade.
Overall, the new export facilities are estimated to generate more than 10 gigatonnes of carbon dioxide equivalent (CO2e) emissions by 2030, comparable to the annual emissions of the United States and the European Union combined 5.
Justine Duclos-Gonda, Oil & Gas Campaigner at Reclaim Finance says: “The worldwide rush to build is steering us towards disaster – for the climate and for local communities, and we will all pay the price. It is no wonder that people are increasingly raising their voices against these projects, which threaten their health and livelihoods. But despite these concerns, banks keep pouring billions into LNG expansion, regardless of the social and climate costs.”
QatarEnergy and the US-based company Venture Global are the biggest export terminal developers, with their planned LNG export terminal projects that will result in emission of over 1.2 Gt of CO2e by 2030. The French major TotalEnergies ranks fifth, with projects estimated to result in over 300 million tonnes of CO2e by 2030.
“Communities are suffering from climate impacts and economic devastation. Liquefied gas is making things worse. The world does not need any fossil fuel expansion: not a single new frack field, pipeline, LNG tanker or terminal. Yet, the US government, fossil fuel companies, banks and insurance companies are pushing gas around the globe, creating the biggest fossil fuel buildout of our lifetime.” – Ruth Breech, LNG Campaign Manager, Rainforest Action Network
Despite these impacts, global banks have continued to back LNG developers, funneling US$174 billion into LNG expansion between 2021 and 2024. Three quarters of this support comes from just five countries: the United States, Japan, China, Canada and France, with three banks (Mitsubishi UFJ Financial Group (MUFG), Mizuho Financial Group and JPMorgan Chase) each contributing over US$10 billion.
European banks including Santander, ING, Société Générale, Crédit Agricole, and Groupe BPCE are also identified as among the top financiers of LNG expansion.
The organizations are urging banks to recognize the impacts of LNG and adopt comprehensive policies to end all financial services for new LNG projects and the companies developing new LNG facilities.
See https://ExitLNG.org – a new site launched by Reclaim Finance, Andy Gheorghiu Consulting, BankTrack, CEED, Food and Water Watch, Friends of the Earth France, Market Forces, Rainforest Action Network, ReCommon, SFOC, StandEarth, and Urgewald. The beta site will be available to preview until Sunday 3028 November and will be launched on Tuesday 2 December.
LNG projects are defined as large infrastructures that will significantly increase LNG terminal capacity. This definition can include a completely new terminal, or a specific phase or train of an existing terminal. Each project may each have different stakeholders, capacities, timelines and financing. The projects were defined based on data from the Global Oil & Gas Exit List 2024
Reclaim Finance identified 46 short-term expansion gas projects (i.e. gas projects currently under field evaluation or under development) that are directly linked to LNG facilities, with more than 51bn boe of gas resources.
In 2022, U.S. emissions were about 6.34 Gt CO₂e according to the EPA. According to the European Environment Agency, the EU’s GHG emissions (excluding land use/forestry) were about 3.1 Gt CO₂e in 2023.
