Europe Blinks: EU Delays Methane Rules on U.S. LNG Imports a Year

Europe blinked. On Wednesday, the European Commission (the EU's executive branch) proposed delaying its world-first methane rules for imported oil, natural gas, and coal by one year. The rules were set to kick in on January 1, 2027. Under the new proposal, they won't start until 2028. That's good news for U.S. LNG (liquefied natural gas) exporters, which supply more than half of Europe's LNG, and, by extension, for the drillers and royalty owners whose gas feeds those export plants. Pressure came from France, the U.S., many EU countries, and the oil and gas industry. Big Green, as you'd expect, is having a meltdown. The delay still needs a thumbs-up from the European Parliament and EU member governments, and some want a longer, three-year pause.

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