finance
EU Suspends Methane Emissions Reporting Rules for Oil and Gas Imports
The European Commission has informed national governments they can remove planned penalties for non-compliance with rules requiring emissions reporting along supply chains. The suspension follows the regulation's adoption two years ago and its entry into force this year.
May 7, 3:00 AM·1m read1 source
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The European Union has decided to suspend a regulation requiring oil and gas suppliers to report emissions along their supply chains. com reported. A draft document from the European Commission informed national governments that they could remove planned penalties for non-compliance with the methane rules.
The European Union adopted the methane regulation two years ago. It came into effect this year and extends to all energy suppliers to the EU.
The regulation aims to reduce the EU’s own emissions of the greenhouse gas and to force countries outside the EU that do business with the bloc to cut their emissions. The methane directive imposes expensive methane emission tracking, monitoring, verifying, and reporting obligations on energy exporters to the EU.
The United States emerged as the biggest supplier of liquefied gas to the EU after 2022.
U.S. energy commodities over three years. com.
Energy Secretary Chris Wright has repeatedly called for a reconsideration of the methane rules if the EU wants a secure supply of liquefied gas. QatarEnergy has stated plainly it will not sell LNG to the EU if the directive remains. The suspension effectively addresses those objections by pausing enforcement while the energy supply situation remains unstable.
