The G7 reversed course this week regarding investment in natural gas, declaring support for investments in new LNG production. Since Russia invaded Ukraine, the European Union has had to reconsider its stance regarding fossil fuels as it struggles to secure energy. This change in stance will lead to long-term demand for LNG, likely causing a sustained rally in natural gas prices. Two years ago, the French government asked Engie, the power utility major, not to rush into signing an LNG delivery deal with U.S. energy giant NextDecade, with unnamed sources telling Reuters at the time that the government felt the deal was “not aligned with France’s environmental project and environmental vision.” Fast forward two years, and Engie is suddenly eager to sign a deal with NextDecade for deliveries of some […]