Skip to main content

EIB to stop funding fossil fuel projects at end of 2021

Published by , Editor
LNG Industry,

According to Reuters, the European Investment Bank has announced that it will stop funding fossil fuel projects at the end of 2021.

Reuters reports that this landmark decision potentially affects billions of dollars of gas projects, including LNG projects, in the pipeline.

The bank’s new energy lending policy will bar most fossil fuel projects, including the traditional use of natural gas.

According to Reuters, the new policy will mean that any energy projects applying for funding from the EIB will be required to demonstrate that they can produce 1 kWh of energy while emitting lower than 250 g of CO2. This move will effectively ban traditional gas-burning power plants.

Under the new policy, Reuters claims gas projects will need to be based on so-called ‘new technologies’, such as carbon capture and storage, combining heat and power generation or mixing in renewable gases with natural gas.

Read the article online at:

You might also like

NextDecade announces senior loans for Rio Grande LNG Phase 1

NextDecade Corporation’s subsidiary, Rio Grande LNG, LLC, has entered into a credit agreement for US$356 million of senior loans to finance a portion of the first three LNG trains at NextDecade’s Rio Grande LNG export facility in Texas.


Embed article link: (copy the HTML code below):


LNG Industry is not responsible for the content of external internet sites.