finance
U.S. and Qatar tell EU methane rules risk gas supply
The United States, Qatar, Algeria, and Nigeria told EU energy ministers that methane-emission tracking rules make compliance impossible for many suppliers. The four countries said the rules will cut available LNG volumes and raise prices for European buyers.
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The United States, Qatar, Algeria, and Nigeria warned the European Union that its methane-emission rules for imported natural gas cannot be met by many suppliers and will reduce available volumes. The rules took effect this year for all energy suppliers to the bloc.
Background on the Regulation The United States and Qatar had already stated last year that full tracking across fragmented supply chains is physically impossible. Qatar said it would stop LNG sales to the EU if the rules remained in force. ” Brussels responded by delaying enforcement of penalties until 2030, but the four exporting countries continue to seek full removal of the requirements.
EU Dependence on U.S.
LNG The EU now obtains about 59 percent of its LNG from the United States, a share that reached 64 percent in April. The letter was also signed by Algeria and Nigeria, two other major suppliers. A study by Rystad Energy, commissioned by the Environmental Defense Fund, concluded that three times the EU’s current LNG imports are available from compliant sources worldwide.
