Urgewald finds that over 1,800 oil and gas companies are pursuing new fossil-fuel projects despite COP28 climate pledges. Planned additions include 125.06 GW of gas-fired power in the United States and 388.23 million tonnes/year of proposed U.S. LNG export capacity. Urgewald notes these are company plans and government tallies may differ. At ~1.4°C above pre‑industrial levels, continued warming raises the risk of more frequent extreme weather.
Study: 1,800+ Oil & Gas Firms Planning Major Expansion Despite COP28 Climate Pledges
Urgewald finds that over 1,800 oil and gas companies are pursuing new fossil-fuel projects despite COP28 climate pledges. Planned additions include 125.06 GW of gas-fired power in the United States and 388.23 million tonnes/year of proposed U.S. LNG export capacity. Urgewald notes these are company plans and government tallies may differ. At ~1.4°C above pre‑industrial levels, continued warming raises the risk of more frequent extreme weather.
11:52, 04.11.2025Environment
Oil and gas companies continue to expand despite climate commitments
An updated database released by the German research group Urgewald shows that more than 1,800 companies involved in oil and gas production or the development of fossil-fuel infrastructure are pursuing new projects — even after international climate pledges made at COP28.
Urgewald's dataset indicates that proposed investments and projects remain at levels comparable to those reported around the time of the Dubai conference. These figures reflect company plans and proposals; official government counts can differ if projects lack public sponsors, permits or financing.
Key planned additions
Gas power capacity (planned): Companies based in the United States are planning 125.06 gigawatts (GW) of new gas-fired power capacity, followed by firms in China with 82.22 GW and Vietnam with 44.86 GW.
Proposed LNG export capacity: The United States leads with plans for 388.23 million metric tons per year of liquefied natural gas (LNG) export capacity, followed by Russia at 102.70 million, Mexico at 66.7 million and Qatar at 64 million tonnes per year.
Note: Urgewald stresses these totals reflect company-level plans. National or government inventories may report different figures depending on which projects have official approval or financing.
These expansion plans stand in contrast to global climate goals. At the 2015 Paris summit (COP21) nations agreed to aim to limit warming to as close to 1.5°C above pre-industrial levels as possible. Global temperatures are currently around 1.4°C above pre-industrial averages, and further warming will increase the frequency and severity of extreme weather events such as storms, droughts and floods.
This snapshot from Urgewald highlights the gap between corporate project pipelines and international climate ambitions, underscoring the importance of policy, finance and regulation in shaping future energy infrastructure.