EU delays methane rules to ease energy cost pressures

The European Union has decided to delay its methane regulation by a year to ease the pressure on energy exporters amid soaring fuel prices. European Commission President Ursula von der Leyen announced the decision, stating that the delay will help avoid additional costs during the current energy crisis. She emphasized that tackling high energy costs is the EU's top priority and that the bloc is working on both short-term measures and securing supplies to bring prices down.

Von der Leyen also revealed that the European Commission will launch a 'strategic dialogue on European refineries' to address the record-high gasoline and diesel prices affecting many European countries. She noted that businesses and consumers are struggling with these higher costs, which could worsen as winter approaches. The postponement of the methane regulation was expected, as EU officials had previously hinted at the need for a delay to ensure it does not disrupt energy supply or increase prices.

European Energy Commissioner Dan Jorgensen confirmed that the import part of the methane legislation would be delayed by a year to give market actors time to implement the new rules without negatively impacting security of supply or prices. The delay comes as major oil and gas suppliers to the EU, including the United States and Qatar, have argued that the regulation could harm both supply security and pricing.