The Global Fossil Fuel Asset Tracker

Key Findings 

Latest update

• As of April 2026, 60 private equity-backed liquefied natural gas (LNG) tankers were added to The Private Equity Climate Risks Global Asset Tracker.
• 49 LNG tankers are active, transporting LNG around the globe, with Stonepeak Infrastructure Partners backing 44 through its portfolio company, Seapeak.
• Apollo Global Management and ArcLight Capital also each invest in LNG tankers, with Apollo backing five active tankers through its portfolio company Energos Infrastructure Management. ArcLight has investments in two LNG tankers that are all in the process of being built.

• In the August 2025 update, The Private Equity Climate Risks team added 61 fossil fuel power plants, which adds 26.6 GW of generating capacity, to the asset tracker.
• The asset tracker now includes 600 fossil fuel assets backed by the 20 private equity scorecard firms as of August 2025. 
• With this update, the asset tracker now includes 141 gas-fired power plants, totaling to at least 55.5 GW of generating capacity
  • The firms with the most gas-fired power plants in their energy portfolios are Brookfield Asset Management (including Oaktree) with 33, KKR with 29, and Global Infrastructure Partners (wholly owned subsidiary of BlackRock) with 21.
  • 84 gas plants are located outside of the United States; in 19 countries including Canada, Mexico, Spain, the UK, the Philippines, Australia, and Brazil.
  • 57 are located in the United States, with 38 located in the Northeastern United States, a region already faced with significant health impacts from coal-fired power plants located in the region, as analyzed in the Private Equity Climate Risks report, Private Equity, Public Harm. 
• Of the 600 fossil fuel assets included in the tracker:
  • 283 are midstream assets, 181 are downstream assets, and 136 are upstream.
• There are 28 coal assets in the tracker, 14 midstream coal terminals in Europe backed by Macquarie Asset Management, and 14 coal-fired power plants backed by Brookfield, ArcLight, Blackstone, and KKR.
  • Brookfield’s Oaktree Capital Management backs 6 coal-fired power plants in India, and Bridgepoint’s Energy Capital Partners recently acquired the Gavin coal plant, one of the deadliest coal plants in the U.S., from ArcLight and Blackstone. 
• Of the 282 midstream assets included in the tracker, 56 are fossil fuel storage assets, 54 are oil or gas pipelines, and 32 are liquefied natural gas (LNG) terminals
  • Apollo’s Energos Infrastructure Management operates 9 Floating Storage Regasification Units (FSRU), vessels built to store and re-gasify liquefied methane gas (LNG) out at sea. Energos’ FSRU vessels are off the coast of Spain, Germany, the Netherlands, Jordan, Brazil, and Indonesia.
  • Global Infrastructure Partners, a wholly-owned subsidiary of BlackRock, is a major investor in the Rio Grande LNG facility in South Texas, the first phase of which is currently under construction. In February 2025, Rio Grande LNG announced a major expansion of the project, taking the projected capacity from 18 million tonnes per annum (MTPA) to 48 MTPA.
•  These 20 private equity firms own fossil fuel assets in at least 63 countries, including:
  • Algeria
  • Australia
  • Belgium
  • Brazil
  • Canada
  • Equatorial Guinea
  • France
  • Germany
  • India
  • Indonesia
  • Mexico
  • Philippines
  • Republic of Congo
  • Switzerland
  • The Netherlands

Understanding the Database

The full dataset includes the name of the fossil fuel asset, the current company that owns/operates the asset, and the current private equity investor(s) of that company as of January 2026. These names can all be used as leads to look into the business practices and environmental records of each of these assets. To see which fossil fuel assets each of the 20 private equity firms were invested in, see above.

The dataset also provides the following available details for each fossil fuel asset: 

• Year the asset was acquired by the private equity-backed energy company
• Asset energy sector (upstream, midstream, or downstream)
• Asset energy type (e.g., extraction site, transportation/storage terminal, pipeline)
• Asset energy source (e.g., oil, gas, or coal)
• Location details including:
  • Basin
  • State
  • Country/Area
• Most recent asset operating status (many assets have more than one unit; this column will show the operating status of each unit)

Finally, the Asset Ownership Verification Date field shows the date the asset data was last verified by a Private Equity Climate Risks researcher. 

The dataset is sortable by any field and can be downloaded into a CSV file for further analysis and research.

Private Equity Climate Risks researchers will continue to update and add assets to this tracker.

If you have questions, leads, updates, corrections or comments about any of these assets or their status, please reach out to us. We’d love to hear from you!

Methodology

Methodology and Research Process for Fossil Fuel Asset Verification

Since private equity firms do not provide comprehensive disclosures of current or former investments, the research team has built a data set based on a variety of sources. First, we verified the companies in each of the 20 private equity energy portfolios. Please see the Private Equity Energy Company Tracker for more information on that stage of the process.  Researchers then drew on company websites, press releases, SEC and other regulatory filings, news articles, and other oil and gas databases such as The Global Energy Monitor Global Oil and Gas Extraction Tracker (GOET), the Global Gas Plant Tracker, the LNG Carrier Tracker, and Urgewold’s Global Oil and Gas Exit List (GOGEL) to identify additional companies and build a data set of verified private equity fossil fuel asset investments including the assets locations and capacities. 

The asset tracker is not comprehensive. Private Equity Climate Risks researchers will be updating the data and adding new assets. The tracker will update live as changes or additions are made. Please see the Asset Ownership Verification Date to see when each asset has been most recently reviewed. 

Private equity firms invest in portfolio companies and assets through various strategies, including leveraged buyouts, majority stake investments, minority stake investments, control or non-control investments, credit or lending investments, joint ventures, via intermediaries or directly, and others. The precise nature of each investment arrangement is often not disclosed, but these investments all provide capital to portfolio companies that enable their operations and the associated emissions and environmental impacts. The 20 firms’ current energy portfolio and their fossil fuel assets reflect the private equity firms’ financial interests via any one or more financial strategies listed above to “invest in,” “own,” or “back” each portfolio company, thereby facilitating the activity of the company and its assets, and financing the company’s emissions.