European Commissioner for Energy Dan Jørgensen has instructed his services to assess the possibility of postponing the application of the import component of the European Union’s methane rules by one year. According to him, this should give market participants time to implement the new requirements without harming energy security and prices. OilPrice reports this, citing Jørgensen’s statement to Bloomberg. The entry into force of the so-called methane rule is scheduled for January. It requires energy suppliers to the EU to track, measure, report and verify data on their own methane emissions.
The United States and Qatar, which the publication describes as among the largest suppliers of oil and gas to the EU, have repeatedly stated that the requirements could harm supply stability and affect prices. They pointed to the difficulty of tracking and reporting methane emissions throughout the hydrocarbon supply chain.
According to Wood Mackenzie, energy companies in the EU have been subject to similar regulation since 2024. The European Union now plans to extend the requirements to foreign suppliers. Wood Mackenzie carbon expert Valentina Kretzschmar noted that most oil- and gas-exporting countries outside Europe are not ready to meet equivalent EU requirements within the established deadlines.
Verification of the submitted data remains one of the key uncertainties. Wood Mackenzie notes that currently no institution is accredited to verify methane measurement and reporting at production sites outside the EU. According to the publication, importers do not want to assume the legal, commercial and reputational risks associated with possible non-compliance with the rules.
Among the options considered in Brussels was postponing fines for violations of the regulation. However, this would not eliminate the obligation to report emissions. OilPrice believes that, in the absence of a ready mechanism for meeting the requirements, some oil and liquefied natural gas cargoes may be redirected to other markets.
