EU approves law to hit gas imports with methane emissions limit

European Union countries approved a law on Monday to impose methane emissions limits on Europe's oil and gas imports from 2030, pushing global providers to cut leaks of the powerful greenhouse gas.

Methane is the primary element of the natural gas countries burn in power plants and to heat homes. It is also the second-biggest cause of climate modification after co2, and fuels global warming when it leaves into the atmosphere from leaking oil and gas pipelines and facilities.

Ministers from EU countries gave their federal governments' final approval to the policy at a meeting in Brussels, meaning it can now participate in force. Only Hungary voted against it.

From 2030, the EU will impose maximum methane intensity values on fossil fuels placed on the European market. The European Commission will design the exact methane limitations by that date.

Importers of oil and gas that flout the limitation could face financial penalties.

This import standard might possibly lower worldwide methane emissions from oil and gas by a 3rd, stated Alessia Virone, EU affairs director at the non-profit Clean Air Job Force, noting the EU's status as the world's greatest oil and gas importer.

The rules are most likely to hit significant gas providers such as the U.S., Algeria and Russia. Moscow slashed deliveries to Europe considering that its 2022 invasion of Ukraine and has actually since been replaced as Europe's greatest pipeline gas provider by Norway, whose supply has among the world's most affordable methane strength.

The Biden administration - which along with the EU has rallied countries to cut methane emissions by 30% by 2030 to limit environment modification - has actually welcomed the EU's methane law.

The U.S. last year set out its own guidelines requiring oil firms to restrict their methane emissions.

A representative for the International Association of Oil &&. Gas Manufacturers said it was concerned the EU may not recognise. other jurisdictions' existing methane standards as complying. with its own - and failure to do this might jeopardise security. of energy materials.

The EU will likewise need European producers to routinely. inspect their operations for leaks of methane, and prohibits most cases. of flaring and venting, when oil and gas companies intentionally. burn off or release unwanted methane into the environment.

(source: Reuters)