EU Weighs Delaying Methane Rules Amid Energy Price Surge

The European Union is considering delaying parts of its methane regulation due to rising energy prices. The current rule, set to take effect in January, requires oil, gas, and coal companies importing into the EU to monitor, report, and verify their methane emissions. However, French President Emmanuel Macron has urged the Commission to postpone new methane reporting requirements and ease other fuel-related rules in response to increasing costs exacerbated by the Iran war.

The European Union has spent an additional $100 billion euros on energy this year due to rising costs, said Dan Jørgensen, European Commissioner for Energy and Housing. At a meeting of EU energy ministers in Dublin, Jørgensen proposed postponing parts of the methane regulation related to energy imports for a year.

Companies have expressed concerns that their energy imports would not comply with EU laws because suppliers would not provide information required under the methane regulation. The U.S., Europe's largest supplier of LNG, has warned it could take its supply elsewhere if the regulation is not eased.