Methane is responsible for 30% of global warming – so why is the EU trying to delay rules to cut it?

The European Union is considering delaying new rules aimed at cutting methane emissions, citing concerns that it would ease pressure on energy markets and lower oil and gas prices. Methane is responsible for about 30% of global temperature rise since the Industrial Revolution, contributing to the intense heatwaves experienced in Europe this summer, resulting in over 35,000 excess deaths.

The proposed regulation would require energy importers to ensure that imported fossil energy meets the same standards, and energy companies would have to locate and repair methane leaks, venting, and burning off. This could potentially add around 200 billion cubic meters of gas to the market per year, according to the Climate Crisis Advisory Group (CCAG).

Critics argue that the delay would be detrimental, as it would reduce the availability of gas at a crucial time, potentially pushing up prices. Eurogas and 20 other companies and organizations have called for a three-year postponement, stating that key accreditation, verification, and certification frameworks are not yet fully in place and compliance solutions are still under development.

However, supporters of the regulation argue that the cost of meeting the new methane rules would be minimal, estimated at around €0.07 per MMBtu, or 0.3% of the current gas price. They also note that the regulation would bring previously leaking gas back onto the market, addressing the issue of methane emissions directly.