European Union Agrees to Cut Methane Emissions in Energy Sector

The European Union (EU) has taken a significant stride in the fight against methane emissions, as it reaches an agreement on new regulations designed to reduce this potent greenhouse gas’s production within the energy sector. The agreement seeks to monitor and minimize methane emissions, which are estimated to contribute to one-third of current global warming.

Stringent Requirements for Energy Companies

Under these new rules, companies involved in oil, gas, and coal production will be obliged to measure, report, and verify their methane emissions. Additionally, they must implement measures to prevent emissions. The implementation will be gradual, with operators required to submit emission reports within specified timeframes once the regulations come into force.

Targeting Methane Leaks and Unintended Emissions

The regulations also focus on identifying and addressing sources of methane leaks and other unintentional emissions. Furthermore, measures will ensure that sealed or inactive wells do not contribute to the problem. Regulatory authorities will conduct regular checks to ensure compliance.

Imported Fossil Fuels Included

The new regulations also encompass the importation of fossil fuels into the EU. Exporting countries will need to adhere to monitoring, reporting, and verification measures by January 1, 2027, and comply with maximum methane intensity values by 2030.

A Vital Component of the European Green Deal

Curbing methane emissions is a pivotal aspect of the legislative package designed to implement the European Green Deal, a comprehensive plan aimed at achieving climate neutrality by 2050. A climate-neutral economy seeks to achieve net-zero greenhouse gas emissions.

Energy Sector’s Significant Contribution

According to the International Energy Agency, the energy sector, encompassing oil, gas, and coal production, is a major source of methane emissions, whether intentional or accidental. It is estimated that nearly 40% of human-caused methane emissions are attributed to the energy sector, making it the second-largest contributor after agriculture.

Month: Current Affairs - November, 2023

Category: Environment Current Affairs • International / World Current Affairs