Thread by @urgewald

At #COP26 today, Urgewald & partners launched the “Global Oil & Gas Exit List” (#GOGEL). It covers ~95% of global oil & gas production:

🌎The industry is on a reckless expansion course with dirtiest production forms making up 50% of new projects.

Visit gogel.org🧵

506 upstream oil & gas producers are planning to add 190 billion barrels of oil equivalent (bboe) to their production portfolios within the next 1 to 7 years.

14 companies are responsible for over half of this enormous expansion. #GOGEL #COP26

Here are the Top5:

New fossil fuel infrastructure is a major danger to the Paris goals as they lock us into a high emissions pathway for decades to come.

There are currently 211,849 km of oil & gas pipelines under development. They would reach halfway to the moon or > 5x around Earth. #GOGEL

Methane leakages occur throughout the LNG lifecycle.
Methane is ~25x more potent than CO2 as a greenhouse gas.

#GOGEL shows: Planned projects would double the
world’s current LNG terminal capacity and lock in decades of new methane and CO2 emissions.

Oil & gas production has become more & more extreme. Companies are drilling in fragile environments, using fracking etc.

These sources account for 34% of production & 50% of planned projects.

#GOGEL identifies the world's dirtiest oil & gas producers: gogel.org

Just 4 countries responsible for more than 50% of oil & gas short-term expansion in 2021: USA, Russia, Qatar, Saudi Arabia.

Biggest companies: Exxon Mobil, Gazprom, Qatar Energy, Saudi Aramco.

Banks should cross out these of their portfolios first! #GOGEL #DefundClimateChaos

Read the whole story:
#COP26 #GOGEL

urgewald.org/en/medien/ngos…