EU Targets Methane Leaks, Steps Up Global Drive to Combat Greenhouse Gas

(Bloomberg) -- The European Union is set to intensify efforts to curb methane emissions within the bloc and tackle releases of the gas associated with imports, according to a draft document seen by Bloomberg.

The Commission would require oil and gas operators in the EU to submit methane emission estimates from their facilities within a year of the regulation taking effect, followed by direct measurements from those sources within another 12 months, according to the draft document for regulation due Dec. 14, which could still be subject to change. Leaks would need to be repaired promptly, with surveys conducted at either three or six month intervals.

While controls would not be placed on methane releases originating outside the bloc, the EU will propose measures to “incentivize” third-party countries to reduce emissions. The EU would also establish a methane transparency database detailing what regulations exporters to the EU have in place, as well as a “super-emitters monitoring tool” using satellite imagery to track large-scale releases of the gas. The Commission may then establish bilateral dialogs with countries to address issues.

The EU’s plans mark the latest step in trying to curb methane, which is one of the world’s most potent greenhouse gases, with 80 times the warming potential of carbon dioxide over a short time-frame. Earlier this month, more than 100 countries signed up to the Global Methane Pledge at the COP26 climate summit, a commitment to reduce emissions by 30% by 2030.

Still, the lack of curbs proposed on methane emissions from outside the bloc may disappoint environmental groups who were pushing for the EU -- the world’s largest importer of fossil fuels -- to take stronger measures. The region itself only accounts for about 5% of global emissions of methane, receiving the bulk of its energy supply from countries like Russia.

Methane is the main component of natural gas, which has seen prices soar to record highs in recent months as demand jumps with countries’ economies recovering from the global pandemic.

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