Big Oil Doubles Down on LNG as Renewables Falter

The supermajors continue to bet on LNG while scaling back renewables projects and investments as oil and gas returns continue to trump the poor profits from renewables.    The world’s top international oil and natural gas firms are sanctioning new LNG projects and buying stakes in new developments as they see demand for natural gas growing in the medium to long term.

   Bound by the pledges to return more cash to shareholders, Big Oil is betting on growing its much more lucrative LNG business than on wind, solar, or…