G7 nations agree to short-term gas investments amid Russia-Ukraine war

The G7 leaders on Saturday agreed to stronger language on short-term gas investments in the context of Russia’s ongoing war against Ukraine and the resulting energy crisis.

“We stress the important role that increased deliveries of LNG can play, and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis,” reads the text.

The text makes clear these investments must be limited to “the exceptional circumstance” given the Russian-driven energy shock and “as a temporary response.”