EU

At a time of turmoil in global gas markets, the EC has said it won’t change its Methane Regulation but may introduce “flexibilities.”

The EU Emissions Trading System 2 could drive up costs for those relying on gas to heat their homes and on petrol to fuel their cars.

The Iran war and the chaos it has inflicted on global energy stability, supply and pricing are a stark reminder of Europe’s risky gas reliance, analysts have warned.

Trump’s warnings that he must “own” Greenland have Europe on edge. Some European members of parliament are considering a “freeze” on last year’s trade deal, which could disrupt LNG flows.

The Trump administration wants a “full repeal” of Europe’s Methane Regulation, or at least a delay until 2035. The gas industry on both continents is also lobbying for a weakening of the rules.

The EU Parliament has adopted the Detailed Omnibus Directive that will simplify sustainability reporting and due diligence requirements, which critics say could further weaken the green agenda.

Moldova has managed to replace the gas volumes cut off by Russia’s Gazprom, but the country’s energy import dependency remains a concern.

The presence of hedge funds in gas markets has increased, leading to questions over their impact on gas prices, Gastech attendees heard.

Trump said the EU could avoid higher tariffs if it buys high amounts of oil and gas — but the numbers show this is unrealistic. The EU is negotiating, but is speeding up the deployment of renewables and readying trade retaliation.