A roundup of news and commentary from NGI’s LNG Insight

  • China, the world’s largest carbon emitter, is aiming to reach peak emissions before 2030 and be carbon-neutral by 2060. President Xi Jinping outlined the goals during an address before the United Nations. No details were provided about how the world’s second largest natural gas importer would reach the targets.
  • “If any country can achieve such ambitious goals it will be China,” said Wood Mackenzie’s Gavin Thompson, Asia Pacific vice chairman. “Strong state support and coordination have proven extremely effective at reaching economic goals. If this is now directed towards climate change, then China is capable of transforming its carbon emissions trajectory over the coming four decades in exactly the same way it has transformed its economy over the past 40 years.”
  • Firm added that commodity exporters’ strategies are likely to realign with China’s ambitions under any accelerated energy transition. 
  • December could bring colder weather in Europe after the continent had its hottest winter in history last year. Temperatures are forecast to be near colder long-term averages, with the exception of southern France and eastern part of the continent, according to European Union’s Copernicus Climate Change Service.