The European Parliament and the Council have reached an agreement on a new EU regulation on reducing methane emissions in the energy sector, the European Commission reports. According to her, the new regulation will oblige the gas, oil and coal industry to measure, monitor, report and verify methane emissions in accordance with high monitoring standards and take measures to reduce them. Methane is the second most powerful greenhouse gas after carbon dioxide, accounting for a third of current global warming.

This new regulation was agreed just weeks before the 28th United Nations Climate Change Conference (COP28), which will take place from November 30 to December 12 in Dubai. The agreement will also undergo a final vote in the European Parliament and the European Council.

What will be the new obligations of oil and gas and coal companies

• The regulation will require operators to regularly report methane emissions measurements to the competent authorities, including for non-operating assets;
• It would require oil and gas companies to conduct regular inspections of equipment to detect and stop methane leaks;
• It will ban the emission and regular burning by oil companies. It will also limit non-standard venting and burning, for example for safety reasons or in case of equipment failure;
• It will limit ventilation in coal mines starting in 2027 and more stringently after 2031;
• It will require companies in the oil, gas and coal sectors to take inventory of closed, idle and abandoned assets, monitor their emissions and adopt a plan to reduce those emissions as soon as possible.

Imports of oil, gas and coal will also be checked

The EU imports much of the oil, gas and coal it consumes. That is why the new regulation also covers methane emissions from imports.

A database of methane emissions reported by importers will be created and made public.

The European Commission will also introduce a methane monitoring tool and an early warning mechanism with information on the extent and location of high methane sources both inside and outside the EU.

The regulation stipulates that from January 2027 new import contracts for oil, gas and coal can only be concluded if exporters apply the same monitoring, reporting and verification obligations as EU producers.

The regulation sets maximum levels that must be met for new oil, gas and coal contracts.

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Charles Rex Arbogast / AP / Profimedia