Germany must withdraw a US$4-billion loan guarantee that would enable Calgary-based Pieridae Energy Ltd.
Germany must withdraw a US$4-billion loan guarantee that would enable Calgary-based Pieridae Energy Ltd. to build a 10-million-tonne-per year liquefied natural gas (LNG) terminal at Goldboro, Nova Scotia, a coalition of Canadian and German environmental groups argues in an open letter released last week.
“A publicly covered guarantee of the Federal Government for the promotion and import of fracked gas from North America to Europe must not be granted,” states the letter, addressed to German Environment Minister Svenja Schulze and Minister of Economics Peter Altmaier. It describes the loan guarantee as “rather a gross financial mistake against the German and international climate goals.” #nspoli
2 comments
Offshoring their fossil fuel dealings…how does that fit in with the commendable job Germany has done to go Green?
There have been some good reports on their renewable energy plans but they are also struggling with weaning themselves off fossil fuel. Like Canada, they claim they have been trying to reduce their coal usage but I heard they opened some new coal mines in the last couple of years. LNG is suppose to be better than coal, in that the emissions aren’t as high. It’s a trade off as I see it. Maybe less cO2 but more methane releases in the extraction. By importing it, I suppose this creates less emissions being released in their country.