The Driftwood LNG terminal, if fully realised, would have the capacity to produce and export 37 billion cubic metres of LNG every year, which is at odds with calls from international climate organisations such as the UN’s Intergovernmental Panel on Climate Change to reduce global LNG exports this decade to mitigate global warming. The Driftwood LNG terminal is also located in an area of Louisiana in which there are pre-existing air quality issues, according to data from the US Environmental Protection Agency.

LNG export terminals are capital-intensive, financially risky and environmentally destructive. Financial institutions involved in these projects share responsibility for the impacts of these facilities. These impacts span people and ecosystems: communities around the terminal site, communities at the point of extraction and communities along pipeline routes.

By financing practices that are incompatible with a climate-stable future, the financial institutions involved threaten global agreements to address climate change. Therefore, Goldman Sachs and Société Générale, should withdraw their involvement as financial advisors to this project, and other banks should not provide project financing.