The European Union has reached an agreement to enact a law placing methane emissions limits on oil and gas imports by 2030.
This move aims to press international suppliers to reduce leaks of the potent greenhouse gas, which is the second-largest contributor to climate change. Negotiators agreed on “maximum methane intensity values” for producers sending fossil fuels into Europe.
The new rules could impact major gas suppliers, including the United States, Algeria, and Russia. The law also introduces measures for the oil, gas, and coal sectors to monitor, report, and verify methane emissions, emphasizing the importance of reducing leaks and intentional releases into the atmosphere. The final approval process involves the European Parliament and EU countries.