Chevron seeks clarity on EU methane rules

Chevron, the American oil and gas company, is seeking regulatory clarifications from the European Union regarding methane emission rules before making final investment decisions on capabilities to convert natural gas back to its gaseous state within Europe. This comes as part of the company's efforts to expand its operations in the liquefied natural gas sector, especially in the Eastern Mediterranean and Argentina. The company must also comply with Europe's strict regulatory environment for fossil fuel imports, which includes monitoring methane emissions and implementing financial penalties by 2030 for shipments exceeding set thresholds. Chevron faces challenges related to stringent compliance requirements in the European gas market, amid warnings that supplies could be redirected to other markets if the regulations are not flexible.

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