How students can make AXA stop fuelling the climate crisis

AXA insures the second largest LNG terminal in the U.S., located in Freeport, Texas. This terminal is known for its long history of mismanagement, which led to a terrible explosion and fireball in June 2022. This explosion was no less than the fourth incident at the facility in the last three years. 

Since reopening in March 2023, it continues to pose a risk and has had numerous, ongoing shut-downs due to problems with its pipes, LNG storage tanks and electric motors and other undisclosed safety issues. Recent optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities, and the terminal has been fined in April 2024 for violating Texas air pollution emissions rules. 

On top of that, this LNG terminal has a disastrous impact on climate: it emits around 75 MtCO2/year,, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.

AXA insures Cameron LNG (in Louisiana, USA), partly operated by TotalEnergies, which boasts of being the second largest producer of LNG in the world. 

Cameron LNG is a key export terminal for U.S. shale gas, exploited through fracking, as almost 80% of the gas produced in the United States is derived from shale. Shale gas extraction has been banned in France and other European countries, due to its damaging environmental impacts.

Under this contract, AXA covers damage for over $5m, of the $100m required. 

Read this investigation for more details.

AXA, via its subsidiary AXA XL Insurance Company UK Ltd, is providing $36m in coverage for this Tacoma LNG terminal. 

This terminal, which has operated since January 2022 is not only boosting shale gas exports, but also putting Puyallup Native Americans’ fishing resources and health at risk. 

Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

Read this investigation for more details.

AXA is insuring the Belgium company Fluxys, which imports gas into France and Belgium that is held by oligarchs accused of funding Russia’s war effort. For more than seven years, the French company has been one of the Fluxys Group’s main insurers.

Part of the gas imported by Fluxys comes from Yamal LNG, in the Arctic region. In 2023, 38% of the gas exported to Europe from Yamal was delivered to Fluxys storage facilities in France and Belgium. 

The gas extracted in Yamal is produced and sold by Novatek, owned by oligarch Gennady Timchenko. Since 2022, he has been under EU sanctions for supporting actions undermining Ukraine’s territorial integrity, sovereignty, and independence. Russian gas exports directly finance Russia’s war effort. 

Read this investigation for more details.

The Dunkirk LNG terminal, partly operated by the Belgian company Fluxys, is insured by AXA. With its three huge tanks for storing LNG, this terminal operating since 2017 is the second largest in Europe. 

Through its subsidiary AXA Investment Managers, AXA is also one of the main shareholders of Dunkirk LNG. 

Read this investigation for more details.

AXA insures the second largest LNG terminal in the U.S., located in Freeport, Texas. This terminal is known for its long history of mismanagement, which led to a terrible explosion and fireball in June 2022. This explosion was no less than the fourth incident at the facility in the last three years. 

Since reopening in March 2023, it continues to pose a risk and has had numerous, ongoing shut-downs due to problems with its pipes, LNG storage tanks and electric motors and other undisclosed safety issues. Recent optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities, and the terminal has been fined in April 2024 for violating Texas air pollution emissions rules. 

On top of that, this LNG terminal has a disastrous impact on climate: it emits around 75 MtCO2/year,, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.

AXA insures Cameron LNG (in Louisiana, USA), partly operated by TotalEnergies, which boasts of being the second largest producer of LNG in the world. 

Cameron LNG is a key export terminal for U.S. shale gas, exploited through fracking, as almost 80% of the gas produced in the United States is derived from shale. Shale gas extraction has been banned in France and other European countries, due to its damaging environmental impacts.

Under this contract, AXA covers damage for over $5m, of the $100m required. 

Read this investigation for more details.

AXA, via its subsidiary AXA XL Insurance Company UK Ltd, is providing $36m in coverage for this Tacoma LNG terminal. 

This terminal, which has operated since January 2022 is not only boosting shale gas exports, but also putting Puyallup Native Americans’ fishing resources and health at risk. 

Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

Read this investigation for more details.

AXA is insuring the Belgium company Fluxys, which imports gas into France and Belgium that is held by oligarchs accused of funding Russia’s war effort. For more than seven years, the French company has been one of the Fluxys Group’s main insurers.

Part of the gas imported by Fluxys comes from Yamal LNG, in the Arctic region. In 2023, 38% of the gas exported to Europe from Yamal was delivered to Fluxys storage facilities in France and Belgium. 

The gas extracted in Yamal is produced and sold by Novatek, owned by oligarch Gennady Timchenko. Since 2022, he has been under EU sanctions for supporting actions undermining Ukraine’s territorial integrity, sovereignty, and independence. Russian gas exports directly finance Russia’s war effort. 

Read this investigation for more details.

The Dunkirk LNG terminal, partly operated by the Belgian company Fluxys, is insured by AXA. With its three huge tanks for storing LNG, this terminal operating since 2017 is the second largest in Europe. 

Through its subsidiary AXA Investment Managers, AXA is also one of the main shareholders of Dunkirk LNG. 

Read this investigation for more details.