April 16, 2021 Read More →

Bangladesh and Vietnam will lose with pivot from coal to gas

Saur Energy:

The emerging markets of Bangladesh and Vietnam are alluring for foreign energy companies looking to make money in the region. But these nations stand to lose both economically and environmentally through a pivot from coal to gas. Such a switch risks hindering investment into renewable energy and derailing climate progress across the continent, writes Simon Nicholas, an Energy Finance Analyst with Institute for Energy, Economics and Financial Analysis (IEEFA), in a timely piece.

In Bangladesh, the U.S. gas turbine company, GE, has been negotiating to sell more of its gas technology, potentially paving the way for more U.S. LNG exports to the country. Meanwhile, the Japan International Cooperation Agency (JICA) signed an agreement earlier this month to help develop the country’s new power plan. Japan’s JICA has stated that it wants to promote a “transformation to a low or zero carbon energy system” in Bangladesh. But given LNG’s full lifecycle greenhouse emissions are comparable to that of coal, promoting the expansion of imported gas on environmental grounds is simply false. From a financial risk perspective, the pursuit of LNG is just as contentious.

 [Staff Report]

More: Bangladesh Needs a Renewables Focus, Not a Switch From ‘Coal to Gas’: IEEFA

Posted in: IEEFA In the News

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