EU to Delay by Three Years Methane Rules Penalties on Importers

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessEU to Delay by Three Years Methane Rules Penalties on ImportersThe European Union’s executive plans to recommend that member states delay by three years penalties on energy importers that fail to comply with the bloc’s controversial methane emissions rules.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — The European Union’s executive plans to recommend that member states delay by three years penalties on energy importers that fail to comply with the bloc’s controversial methane emissions rules.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountOver past months, the European Commission has resisted pressure from the US, the oil and gas industry, and more than half of its member states to revise its methane rules, opting instead to issue non-binding guidance. It is set to recommend next week that penalties should not be applied between 2027 and 2029, except for “cases of large-scale fraudulent breaches,” according to a draft document seen by Bloomberg News on Friday.Disagreements over the rules — which target emissions of the potent greenhouse gas within the EU and impose new requirements on fossil fuel imports — have intensified after the US, Qatar and other gas-producing nations warned the bloc that the regulation could jeopardize energy shipments. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBeginning in 2027, fossil-fuel imports into the EU will have to comply with monitoring, reporting and verification requirements aimed at reducing methane emissions, a greenhouse gas that traps about 80 times more heat than CO2 over its first 20 years in the atmosphere. By 2030, imports exceeding a methane-intensity threshold will face penalties. Under the current framework, companies could be fined as much as 20% of their annual turnover.The US, which has become Europe’s largest supplier of LNG, has warned that its supplies will head elsewhere if the bloc refuses to ease the regulation. The debate comes as the EU seeks to bring down stubbornly high energy costs and diversify supplies amid the conflict in the Middle East and efforts to end reliance on Russian energy. It also underscores the challenges the bloc faces in extending stricter environmental standards to imports from third countries.The industry has repeatedly said that the recommendations pledged by the EU are not enough and that importers risk being pushed into non-compliance. They cited verification as a major bottleneck, with too few recognized protocols and verification bodies.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.