An estimated $20tr of climate damage is being linked to massive gas expansion in Qatar.

Using BP’s analysis of Qatar's fossil fuel reserves and two peer-reviewed models that assess the social cost of carbon and the mortality cost of carbon, the lifetime projected emissions from Qatar's oil and gas fields would generate an additional 50Gt of carbon dioxide, destroying the UN 1.5C warming limit and potential 11 million deaths according to BankTrack.

QatarEnergy has signed deals with Shell, TotalEnergies, ConocoPhillips, ExxonMobil, and Eni to expand production from Qatar’s North Field, the world’s biggest non-associated gas field.

Henrieke Butijn, climate campaigner and researcher at BankTrack said: “Pointing the finger only at Qatar would be too easy. The banks enabling QatarEnergy to set off these carbon bombs are also responsible for the damage and mortality caused by these projects. As for Shell, TotalEnergies, ConocoPhillips, Exxon and Eni, getting in on these carbon bombs is yet another red flag that they are not planning to transition in line with 1.5C. Their financiers should therefore move beyond ineffective engagement to real action: stop financing companies involved in these expansion projects.”

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