EMEA News
European Parliament Postpones EU Methane Regulation Requirements
The European Parliament has backed a three-year delay to key requirements under the EU Methane Regulation for oil, gas and coal importers.
A total of 341 Members of the European Parliament (MEPs) voted in favour of the delay, while 225 voted against and six abstained, according to a press release issued on Thursday.
The European Commission proposed a one-year delay, but Parliament wants to extend it to three years.
"The Commission proposed postponing by one year certain importer obligations, due to apply from 1 January 2027, and methane intensity reporting, due by August 2028," European Parliament said.
Importers would have until May 31, 2031, to demonstrate that their supply contracts meet monitoring standards equivalent to EU rules.
The deadline for reporting the methane intensity of fossil fuels sold in the EU would also move from August 5, 2029, to August 5, 2031.
Importers have warned they may struggle to secure compliant fuel supplies amid tight energy markets and high prices linked to the conflict in the Middle East.
The proposed extension would not apply to imports from countries subject to EU sanctions restricting or banning such trade.
Parliament is now ready to negotiate the changes with the Council of the European Union.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 937.00 | 3.50 | 1341.00 | 12.50 |
| Rotterdam | 763.00 | 6.00 | 1434.50 | 5.50 |
| Houston | 805.50 | 16.00 | 1422.00 | 15.00 |
| Fujairah | 969.00 | 0.50 | 1751.00 | 7.50 |
| EMEA Average | 903.50 | 3.00 | 1719.00 | 11.00 |
| Global 20 Ports Average | 919.00 | 1.00 | 1552.00 | 6.00 |
| Global 4 Ports Average | 868.50 | 6.00 | 1487.00 | 6.50 |
| Global Average Bunker Price | 958.50 | 5.00 | 1598.00 | 19.50 |
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