WoodMac: LNG Growth To Propel Oil And Gas Industry's Carbon Emissions

The growth in emissions is also driven by a wave of investments in heavy oil projects such as Canada's oil sands, according to the study.

WoodMac also estimated that around $45 billion of oil and gas projects representing some 2.3 percent of fossil fuel reserves of firms surveyed are at risk of not getting the green light by 2025 because of their high carbon emissions.

The number, based on a tax of $40 per tonne of carbon, represents a fraction of other estimates of so-called "stranded" fossil fuel assets.

Conventional onshore oil and gas fields will remain the largest single source of production and emissions by 2025, although their share of the total will diminish as fields age, according to the study.

(Reporting by Ron Bousso; Editing by Greg Mahlich)


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