G7 leaders agree to temporarily increase gas projects to cut dependency on Russia
Updated: 2022-06-29 14:44:55 KST
To reduce their countries' dependence on Russia for energy, the G7 leaders have decided to temporarily increase public investment in liquid natural gas projects despite global efforts to reduce the use of fossil fuels in general.
Following the G7 summit in Germany, in a communique on Tuesday, the leaders said these were exceptional circumstances because the lack of energy supplies from Russia right now has contributed to inflation and more use of coal.
They said, though, that it is possible for more LNG to be produced in a way consistent with climate objectives, for example, by ensuring that projects are integrated into national strategies for carbon reduction and renewable hydrogen.