Strasbourg:European Commission President Ursula von der Leyen announced that the European Union will extend flexibility for fossil fuel exporters on methane requirements by an additional year to alleviate energy costs amid the ongoing energy crisis.

According to Anadolu Agency, von der Leyen addressed the European Parliament, emphasizing that this measure aims to reduce costs for exporters facing pressure in Europe's energy markets. The EU's methane regulation, which targets methane emissions from the energy sector, applies to both domestically produced and imported fossil fuels such as oil, natural gas, and coal.

The current implementation timeline of the regulation requires importers to begin proving by January 1, 2027, that methane emissions related to fossil fuel production have been monitored, reported, and independently verified according to standards equivalent to EU rules.

Von der Leyen highlighted the significant rise in energy prices, noting that gas prices have increased by 140% and diesel prices have doubled since the end of February. She added that Europe has incurred an additional cost of 100 billion pounds ($112 billion) for imported fossil fuels without receiving additional energy.

She also pointed out the financial strain on families and industries, suggesting that the situation could worsen as winter approaches. The EU executive is planning a strategic dialogue on European refineries and forming a new task force to coordinate energy demand and support joint procurement.

Von der Leyen emphasized the need to reduce Europe's dependence on fossil fuels, warning that relying on oil and gas exposes the region to external events. She advocated for a shift to domestically generated clean electricity as a long-term solution.