The European Union has advised its member states to delay imposing fines on oil and gas companies for methane emissions for three years, following pressure to pause new regulations. Under the new rules, importers of oil and gas are required to monitor and report methane emissions starting from January 2027. However, a dozen EU nations have called for a delay, citing concerns that the rules would limit Europe's supplier base amid ongoing energy market instability caused by the US-Iran war. The United States, the EU's largest oil supplier, has also backed the call for a delay. Despite this, the European Commission has maintained the 2027 start date for the rules but suggested that fines should not be issued until the end of 2029. This move is intended to ensure 'security of supply in a context of global energy markets tightness caused by the ongoing blockade of the Strait of Hormuz and the conflict in the Middle East.' Environmental activists have urged the EU to keep the methane rules unchanged, highlighting the significant role methane plays in global warming. The United Nations has also called for renewed efforts to reduce methane emissions, which are about 80 times more potent than CO2 and account for one-third of greenhouse gas warming. The fossil fuel sector is responsible for 35 percent of human-induced methane emissions, primarily through leaks, flaring, and venting from oil and gas operations.
EU Proposes Three-Year Pause on Methane Fines for Oil and Gas Firms Amid Energy Crisis
The European Union has recommended a three-year pause on fines for oil and gas firms failing to report methane emissions, amid concerns over energy supply security.
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