GHG Emissions, Industrial, Regulation - November 17, 2023
EU Commission Approves First EU Law to Curb Methane Emissions
The EU Commission has approved the provisional agreement reached between the European Parliament and Council on a new EU Regulation to lower energy sector methane emissions in Europe and in global supply chains.
The agreement is an important step toward achieving the European Green Deal and lowering the net GHG emissions by at least 55% by 2030, according to a statement.
The fossil gas, oil and coal industries will have to measure, monitor, report and verify their methane emissions according to the highest monitoring standards and take action to lower them, according to the agreement.
The Regulation seeks to stop the avoidable release of methane into the atmosphere and minimize methane leaks by fossil energy companies operating in the EU.
Operators will be required to report regularly to authorities about quantification and measurements of methane emissions at source level, including for non-operated assets. Oil and gas companies must conduct regular surveys of their equipment to detect and repair methane leaks on EU territory within specific deadlines.
Oil and gas companies will be banned from routine venting and flaring. They will also be restricted from non-routine venting and flaring for safety reasons or in case of equipment malfunction.
The regulation also applies to imported oil, gas and coal, as well as the methane emissions that are produced.
The provisional agreement now requires formal adoption by both the European Parliament and the Council. Once this process is completed, the new legislation will be published in the Official Journal of the Union and enter into force.