Australian fossil fuel megaprojects at risk from record high global gas prices
by Royce Kurmelovs from Environment | The Guardian on (#61567)
Experts warn of permanent demand destruction' for gas but say conditions are ideal for a structural shift to renewable energy
- Follow our Australia news live blog for the latest updates
- Get our free news app, morning email briefing and daily news podcast
High global gas prices may threaten Australian fossil fuel megaprojects as growth forecasts for the industry are reduced by as much as a third.
The International Energy Agency (IEA) significantly revised down its forecast for global gas demand until 2024 by almost two-thirds on Tuesday after prices rose to record levels thanks to Russia's invasion of Ukraine.
Sign up to receive an email with the top stories from Guardian Australia every morning
Continue reading...