Asked if she shared concerns that the regulation will threaten security of supply, she said: “That’s at least what we should avoid. So if there are concerns, it’s important to look into them carefully … The question is what is needed to get the benefits of what this regulation is trying to achieve, but not risking an import shock.”
‘Disastrous signal’
Scientists say curbing methane emissions is the fastest way to slow climate change. That’s because the gas is both very effective at trapping heat and relatively short-lived, staying just a decade in the atmosphere whereas CO2 sticks around for hundreds of years.
The majority of methane emissions linked to human activity are released through agriculture, a tricky source to decarbonize. By contrast, quick and cheap fixes are available to address pollution from the fossil fuel sector, which is responsible for 35 percent of methane emissions.
Fossil fuel executives are no more enthusiastic, warning that the European Commission’s approach risks worsening the sense of regulatory uncertainty. | Ian Forsyth/Getty Images
The EU’s methane regulation seeks to do just that, obliging the oil and gas sector to monitor their sites for methane leaks and fix them fast. The law also bans methane venting and non-emergency burning of gas, known as flaring.
The legislation requires all oil and gas imported into the EU to meet the same standards from 2027 — the crunch issue for fossil fuel producers, which would effectively be required to comply with the bloc’s rules no matter where they are based.
Now, however, the Commission is planning to relax enforcement of those rules. In the draft guidelines the EU executive says governments can grant companies broad exemptions from penalties for breaching the rules if an energy crisis develops — and even before any real disruption occurs.