European Union countries have ratified new legislation to limit methane emissions from oil imports. This will enable international suppliers to be monitored to reduce leakage of this potent greenhouse gas.
EU decision on limiting methane emissions
Methane, the main component of natural gas used in power plants and to heat homes, is the second largest contributor to climate change after carbon dioxide. Its escape into the atmosphere, through leaky infrastructures, exacerbates global warming.
At a recent meeting in Brussels, the agriculture ministers of the EU countries expressed their final approval of the policy, allowing it to enter into force. Only Hungary objected to the new measure.
According to the new regulation, from 2030, the EU will impose “maximum methane intensity values” for fossil fuels in the European market. The European Commission will be responsible for defining the exact methane limits.
New regulatory measures
Oil and gas importing companies that do not comply with these limits will face financial penalties. The new rules will mainly affect large gas suppliers such as the United States, Algeria and Russia.
From 2027, the EU will require that new oil, gas and coal import contracts only be signed with producers that meet methane emissions reporting standards. These new regulations include periodic methane leakage checks, with intervals varying from every four months for LNG terminals to every four months for LNG terminals. LNG terminals to every three years for subsea infrastructure.
Also, European Union policy prohibits most cases of methane flaring and venting, practices in which oil and gas companies intentionally release methane into the atmosphere.
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Source: Natural Gas World
Photo: Shutterstock
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