02.12.2021, 17:34
France Announced a Ban on the Country's Banks to Finance "Arctic LNG-2"
Source: OREANDA-NEWS
OREANDA-NEWS. The French authorities have banned banks in the country from investing in the Russian Novatek project for the production of liquefied natural gas Arctic LNG-2 in Yamal, despite the fact that TotalEnergies participates in the project for the liquefied natural gas (LNG) plant. This was reported on the website of the French branch of the environmental organization "Friends of the Earth" on Thursday, December 2.
The decision was made despite the participation of the French company TotalEnergies in the plant project.
The newspaper La Tribune emphasizes that French President Emmanuel Macron has decided to ban funding for climate reasons.
The publication notes that a boycott of Paris alone is not enough to call into question the implementation of the project, since it has already received "multi-billion dollar funding" from other banks.
Environmental organizations opposed the project, Les Amis de la Terre France reports. It points out that located in the center of the region, which heats up three times faster than the rest of the planet, "Arctic LNG - 2" will produce "about 20 million tons of liquefied gas per year and use the advantages of melting ice to export its products to Europe and Asia through the Northern Sea Route ”.
"The extraction of hydrocarbons and the construction of appropriate infrastructure in such a fragile ecosystem have serious consequences for biodiversity," the organization said in a statement.
The decision was made despite the participation of the French company TotalEnergies in the plant project.
The newspaper La Tribune emphasizes that French President Emmanuel Macron has decided to ban funding for climate reasons.
The publication notes that a boycott of Paris alone is not enough to call into question the implementation of the project, since it has already received "multi-billion dollar funding" from other banks.
Environmental organizations opposed the project, Les Amis de la Terre France reports. It points out that located in the center of the region, which heats up three times faster than the rest of the planet, "Arctic LNG - 2" will produce "about 20 million tons of liquefied gas per year and use the advantages of melting ice to export its products to Europe and Asia through the Northern Sea Route ”.
"The extraction of hydrocarbons and the construction of appropriate infrastructure in such a fragile ecosystem have serious consequences for biodiversity," the organization said in a statement.
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