Australia spending billions on new gas pipelines that may end up worthless stranded assets

Australia’s building boom comes amid $485.8bn in pipeline construction activity globally

Australia is spending billions to build thousands of kilometres of new gas pipelines that may end up worthless stranded assets as the world moves to deal with climate change.

The warning comes in a new report by Global Energy Monitor tracking 600km of pipelines currently under construction and 12,200km of proposed new infrastructure across Australia, with the total value of this work amounting to $25.8bn (USD$18.6bn).

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(SOURCE) https://www.theguardian.com/australia-news/2022/feb/23/australia-spending-billions-on-new-gas-pipelines-that-may-end-up-worthless-stranded-assets

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