Australia faces climate dilemma with LNG extension to 2070
Australia plans to extend the operation of its largest LNG facility until 2070. While this move could generate billions in profits from new drilling, it raises concerns about the country's climate policy. The decision appears to contradict efforts to increase renewable energy production.
The Australian Minister for the Environment, Murray Watt, announced a preliminary decision to extend the operation of the LNG North West Shelf until 2070, as reported by Bloomberg.
The operator, Woodside Energy Group Ltd., has 10 business days to respond. This decision could provide significant financial benefits by opening up new drilling opportunities worth billions of dollars. However, it simultaneously poses a challenge to Australia's climate commitments.
The government of Prime Minister Anthony Albanese, who was recently re-elected, has pledged to boost renewable energy production.
However, extending the operation of one of the country's largest polluting facilities could impact Australia's reputation as a leader in combating climate change.
Emissions from the North West Shelf, including those from gas exports, could, over 50 years, be ten times greater than Australia's current annual emissions. This raises questions about the decision's alignment with global climate goals and Australia's commitments to emission reductions.
