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Chevron seeks explanation on EU methane rules
Chevron, the American company, is requesting regulatory clarifications from the European Union regarding the methane emissions rules. This is aimed at ensuring a clear regulatory environment before making investment decisions in capacities to convert natural gas back into its gaseous state within Europe. The company believes that having these capabilities will enable it to directly supply the European gas network with imported sources and meet consumer needs, provided there is a flexible and consistent regulatory framework. Europe faces strict restrictions on fossil fuel imports concerning methane monitoring, reporting, and emissions, with financial penalties imposed on shipments exceeding emission limits by 2030. This situation is compelling Chevron to invest in its resources in the Eastern Mediterranean, Argentina, and the United States, amid warnings that supplies could shift to other markets if the regulatory rules are not flexible enough.
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