MiQ Standard Becomes Sole Benchmark Meeting New EU Gas Import Regulations

MiQ Standard Becomes Sole Benchmark Meeting New EU Gas Import Regulations:

NEW YORK and LONDON, May 30, 2024 /PRNewswire/ -- New European Union (EU) regulations now start the clock for U.S natural gas producers to adhere to new rules on the measurement-based quantification, reporting and verification (MRV) of methane emissions if they want their gas to access the EU market. Producers must begin complying with European methane regulations in March 2025, and have until January 2027 to meet the rules or run the risk of their produced gas being blocked from access to the EU market.

MiQ, the global leader in emissions certification, confirms its standard is the only benchmark which is expected to meet EU equivalence requirements for measurement-based reporting and third-party verification. Consequently, MiQ certification will facilitate regulatory compliance for U.S. produced gas aiming for the EU market.

The EU's new importer requirements will affect those U.S. natural gas producers that will need to adhere to the rules if they want their gas to access the EU market. Over the coming 30 months, the EU's new regulatory framework will implement increasingly strict requirements for methane emissions reporting for natural gas imported into Europe, including measurement verified quantification of source- and site-level emissions and independent third-party verification of reports. By 2030, all imported gas that enters the European Union will have to demonstrate that methane emissions of the production of natural gas will not exceed a maximum methane intensity value.

MiQ is currently the only organization – domestic or international – that has an existing operational program that meets the EU regulation's producer-level measurement, reporting and verification (MRV) conditions.  In combination with MiQ's use of certificates to track operator emissions, MiQ's rigorous MRV requirements and its robust audit program provide a field-tested path for operators to meet the stringent requirements of the EU methane regulation. Furthermore, the regulation makes clear that operators who self-report emissions data without third-party verification will not meet the EU's criteria for their produced gas to be exported to Europe.

Detailed implementing acts from the EU on the specific nature of the equivalence requirements have yet to be developed, but the adoption of the new rules underscores the urgency with which U.S. producers who want to enable their produced gas to be exported to the EU need to act to ensure compliance.

"We welcome the EU's introduction of new natural gas import requirements. MiQ has anticipated these changes for some time and our certification program offers natural gas producers a clear pathway to compliance with the new regulation," said Georges Tijbosch, CEO of MiQ. "MiQ-certified operators will be prepared for the enforcement of the new rules - demonstrating clear commitment to transparently reporting and reducing emissions, and ultimately ensuring access to the major EU market."

As the EU finalizes implementation details, MiQ is ready to collaborate with all stakeholders, offering expertise and support to ensure effective compliance with the new standards.

About MiQ 

MiQ is a global leader in methane emissions measurement and certification. Our mission is to facilitate a rapid reduction in methane emissions from the oil and gas sector by providing a credible and transparent certification system that incentivizes improvements and ensures accountability.

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SOURCE MiQ

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