The European Commission is postponing stricter reporting requirements for methane emissions for oil and gas importers by one year. Commission President Ursula von der Leyen says the measure is intended to reduce companies’ costs during the ongoing energy crisis, reports the Wall Street Journal.
The requirements were due to enter into force in January 2027 and would have entailed stricter reporting on emissions from suppliers outside the EU. The announcement comes as high fuel costs, linked to the conflicts in the Middle East and Ukraine, are putting pressure on European industry.
Ursula von der Leyen also announced that the European Commission will initiate a dialogue with European refineries with the aim of pushing down prices and securing the Union’s energy supply.
Earlier in October, the G7 countries agreed to release 100 million barrels of diesel and crude oil to curb prices.
