00:01The European Commission is considering suspending methane fines for oil and gas producers during gas shortages, emergency storage situations or
00:11major oil supply shocks, according to a leaked document seen by Euronews.
00:15The draft text says penalties should not jeopardise gas or oil supplies during periods of market stress or crisis, a
00:25move likely to be seen as a concession to mounting pressure from industry and international partners.
00:30With Europe increasingly dependent on important liquefied natural gas, Brussels is concerned that strict enforcement could strain relations with suppliers,
00:41deter investment or divert cargoes to more lucrative Asian markets.
00:45Critics, however, are likely to argue that the EU is attempting to avoid a confrontation with major exporters and energy
00:53companies by embedding broad flexibility into the enforcement system, potentially undermining the credibility of the legislation itself.
01:02Methane arises from fossil fuel production or livestock digestion and is a highly potent greenhouse gas with a global warming
01:10potential over 80 times greater than carbon dioxide over a 20-year period.
01:15For more information, visit www.e
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