Changes in the regulation of the internal market for natural gas and hydrogen
On July 16th, 2024, Regulation (EU) 2024/1789 of the European Parliament and of the Council of June 13th, 2024 was published in the Official Journal of the European Union, introducing changes to the regulatory framework of the internal market for natural gas and hydrogen, thus seeking to promote the transition in the European energy system towards renewable and low-carbon gases, in particular hydrogen.
Of particular note are the measures to support coal and carbon-intensive regions to achieve a gradual abandonment of fossil fuels, cross-subsidization, discounts on transport tariffs for renewable and low-carbon gas and the creation of a demand aggregation mechanism, thus facilitating the joint purchase of natural gas.
The Directive (EU) 2024/1788 of the European Parliament and of the Council of June 13th, 2024, in addition to establishing consumer protection measures, extends the regulatory framework with regard to the transport, distribution and storage of these gases. It also emphasizes the creation of an integrated network throughout the EU, with gas and hydrogen network operators being responsible for preparing a 10-year EU network development plan.
For more information, see the Regulation and the Directive.
New regulation of methane emissions
On July 16th, 2024, Regulation (EU) 2024/1787 of the European Parliament and of the Council of June 13th, 2024 on the reduction of methane emissions in the energy sector was published in the Official Journal of the European Union. This regulation lays down rules for the rigorous measurement, quantification, monitoring, reporting and verification of methane emissions in the EU energy sector, the implementation of which is to begin gradually from 2025.
In addition to establishing a set of restrictions on emissions from the extraction, processing and transportation of fossil fuels in the Member States, as well as on exporters of oil, coal and natural gas supplying the EU, this new regulation also stipulates the need for each Member State to appoint at least one competent body to ensure proper monitoring of the rules of this legislation.
The Regulation will take effect on August 4th, 2024.
For more information, see the Regulation.
