Qatar & The US Warn EU Of Gas Crunch Over Methane Regulation
Authored by Irina Slav via OilPrice.com,
Major LNG suppliers say the EU’s methane regulations are too burdensome to comply with and could lead to reduced gas supplies.
The U.S. and Qatar contend that tracking methane emissions across complex gas supply chains is technically difficult or impossible.
With nearly 60% of its LNG imports coming from the U.S., the EU risks straining relations with key suppliers as it pursues stricter climate policies.
The United States and Qatar have once again warned the European Union against doubling down on climate policies seeking to penalize the LNG industry, saying that if it continues on this course, the EU will face a gas crunch and higher prices.
“There is no viable path to compliance with the regulation”, the top energy officials of the U.S. and Qatar, Chris Wright and Saad al-Kaabi, wrote in a letter quoted by the Financial Times.
“Because legal compliance remains paramount, exporters and importers alike are unwilling to enter into contractual agreements that knowingly violate EU law,” the U.S. energy secretary and the Qatari energy minister also wrote. “Significant supply and price impacts are a certainty.”
The letter comes ahead of a meeting on Friday when the energy ministers of EU member states will discuss the policies of the bloc. It was also signed by two other large gas suppliers to the European Union, Algeria and Nigeria, the FT also reported.
The so-called methane regulation, adopted by the European Union two years ago, aimed at reducing not only the bloc’s own emissions of the greenhouse gas that constitutes almost 100% of natural gas but also forcing countries outside the EU that do business with the bloc to cut their emissions as well, notably gas suppliers.
The regulation, starting this year, extends to all energy suppliers to the EU, and these suppliers were anything but happy about it.
Both the United States and Qatar have already repeatedly warned the EU that they are unwilling to do business with it under the methane regulation that requires gas producers to track their methane emissions from the wellhead to the liquefaction plant and the LNG carrier after that, report them, and take pains to reduce these emissions, or face financial penalties.
Qatar was blunt about it, saying last year that if the EU was so concerned about methane emissions, they should look for some other source of LNG because Qatar would stop selling to the bloc. Secretary Wright also said last year that the methane regulation was impossible to implement and described it as “a critical non-tariff trade barrier that imposes an undue burden on U.S. exporters and our trade relationship.”
In response, Brussels caved partially, saying it will not enforce the penalties stipulated in the regulation until 2030. LNG exporters are still not happy with this option, insisting on what would effectively be the cancellation of the regulation—and they are not alone because there are EU member states that are not really eager to pay the additional cost of low-methane LNG, which would be inevitable, as pointed out by Wright and al-Kaabi.
Not only are higher gas prices for European buyers inevitable, but Secretary Wright was not exaggerating when he said the regulation would be impossible to enforce in the U.S. shale gas patch. The reason is quite simple: U.S. natural gas is produced by multiple companies that then feed their output into a complex gas network that takes the gas to the liquefaction facilities on the Gulf Coast. Tracking every molecule to ensure it was produced and shipped with as few methane emissions as possible is quite literally, physically impossible.
According to energy consultancy Rystad Energy, however, there is no problem with the EU methane regulation, because there are three times as much compliant natural gas available in the world as the EU imports, it said in a study commissioned by climate outlet the Environmental Defense Fund, as cited by the FT. One wonders, however, if that is indeed the case, why would both Qatar and the United States, which together account for a pretty solid portion of global LNG output, claim compliance is impossible, meaning there is not enough compliant gas in the world.
The EU, for all its power posturing, is not in a position of strength. Bloomberg’s Javier Blas reported in a recent column that the bloc buys some 59% of its LNG from the United States, with the figure going all the way to 64% in April. As a result, Blas wrote, some in Brussels are starting to worry that the EU has become too dependent on a single supplier of a vital commodity—and it does not exactly have many alternatives should anything strain relations, such as, perhaps, an ill-conceived methane regulation.
Yet it appears the purpose of the methane regulation is not necessarily to make sure the gas that Europeans buy is “clean”. The purpose, as described by the FT and attributed to proponents such as the Environmental Defense Fund, is to reduce gas consumption, apparently by making the conditions for purchasing that gas unpalatable. For those proponents, reducing gas consumption would improve the EU’s energy security. European industrial energy consumers beg to differ. Who will prevail should become clear pretty soon.
Badenoch blasts 'moaning' female Labour MPs over Burnham jobs 'quota'
Kemi Badenoch has told Labour women to earn a job in Andy Burnham's Cabinet instead of demanding they are handed jobs because of their gender.
The Tory leader lashed out today amid reports that female MPs are demanding the de-facto new prime minister introduce a 50:50 gender split 'quota' in his government.
Amid reports that former foreign secretary David Miliband is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister also complained that Burnham could not have 'more Milibands than women' in the top posts.
But in a scathing article in the Times today Mrs Badenoch told them to 'stop moaning' and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'.
'There are many, many reasons why you shouldn't have any Milibands in the cabinet,' she said.
'But complaining that the boys haven't given them the right jobs or that the boys are taking all the jobs, just shows that Labour's women still don't get it.'
The idea of quotas was also attacked by Baroness Jacqui Smith, Labour's Skills Minister.
Asked by Times Radio if Mr Burnham should reserve jobs for women, she said: 'No, I think what Andy Burnham should be doing is building the very best team around him to change this country.'
A letter written by the Women's Parliamentary Labour Party has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs
Amid reports that former foreign secretary David Miliband (above, right, in 2010) is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister complained that Burnham could not have 'more Milibands than women' in the top posts
But Mrs Badenoch told them to pipe down and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'
A letter written by the Women's Parliamentary Labour Party and seen by the BBC has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs after he succeeds Sir Keir Starmer.
'We are asking you to demonstrate this change from day one and address the toxicity and misogyny within our own party and government,' it said.
Labour has never had a female leader, while the Conservatives have had three, and Mrs Badenoch urged the government to follow its meritocratic example.
'If you run a meritocracy, then you do not have to worry about jobs for the boys,' she wrote.
'Every woman who is a Conservative MP, every woman who has ever won the leadership, has had to fight to get where she is.
'By contrast, Labour women are demanding guarantees from Burnham. But the truth is he doesn't have to give any guarantees.
'If none of Labour's women are prepared to get their hands dirty and challenge him for the leadership, their demands are toothless.'
'In fact, it's quite revealing that the women's parliamentary Labour Party has written to Burnham asking him to commit himself to at least 50 per cent female ministers.
'This has nothing to do with meritocracy. It is yet more of the failed identity politics that is holding back our country.'
Venezuela Fury and Noah Price subsidising their life by livestreaming
Venezuela Fury and her husband Noah Price look to be making their own way in the world by raking it in from their lucrative social media accounts.
The influencer daughter of Tyson and Paris Fury, 16, has become an internet sensation after tying the knot with her husband Noah, 19, earlier this year.
Since getting married and moving in together the couple have been earning thousands of pounds a month, livestreaming their life as newlyweds in their static caravan in the East Riding of Yorkshire.
And fans can't get enough of their regular life updates on TikTok and Kick, which have proved to be very profitable for the pair.
They look to be supporting themselves after Noah denied that he was given £5million by Venezuela's family as a wedding gift.
Despite his wife's huge family wealth, an estimated combined £160 million, Noah recently told his Kick followers that he 'pays for everything' for the couple.
Making light of the claims about Venezuela's millionaire financial status, Noah said: 'I actually pay for everything unfortunately. You'd expect the millionaire to pay for it wouldn't you.'
Venezuela Fury and Noah Price are earning thousands livestreaming their caravan life - after her new groom insisted he pays all the bills and denied he had £5m handout from her dad
The influencer daughter of Tyson and Paris Fury , 16, has become an internet sensation after tying the knot with her husband Noah, 19, earlier this year
Venezuela then asked their fans: 'Do you think I am a millionaire?'
Noah joked: 'She isn't a secret millionaire guys', before she broke into song and sang: 'But I live like a millionaire!'
But it seems according to estimated calculations from their social media work, Noah and Venezuela can more than afford to support themselves.
Noah has been livestreaming on platforms such as Kick and TikTok, where viewers can send paid gifts or donations.
He was previously encouraging viewers to send gifts on his honeymoon during livestreams, suggesting this is one revenue stream.
Both Noah and Venezuela have built substantial followings on Instagram and TikTok. They can potentially earn money through sponsored posts, brand collaborations, affiliate links and creator payouts.
Kick allows its creators to take home 95 per cent of the £4.99 subscription cost that fans pay.
Streamers keep 100 per cent of direct tips and donations, minus minor standard payment processing fees.
It is unclear how many subscribers Noah currently has because this information is hidden, but he does have 7,200 followers which is publicly viewable.
An industry insider has suggested Noah is making around £400 per video on TikTok, while Venezuela is likely to make £2,000 due to her following count of 1.3 million.
An industry insider has suggested Noah is making around £400 per video on TikTok, while Venezuela is likely to make £2,000 due to her following count of 1.3 million
In one video on their honeymoon, Noah asked his followers if they'd give them some more gifts now that they were married.
In a TikTok live viewed by 20,000 he said: 'Keep liking our videos people, keep sending gifts.'
After saying thank you to several of his followers he joked they should stick around on the livestream and 'watch Venezuela punch me in the mouth'.
The other half of the honeymooning couple said: 'I am, honestly!'
Noah previously confirmed that the pair don't share their finances after they were asked whether they have a shared bank account.
'She earns her money, I earn mine,' said Noah, as Venezuela joked: 'Yeah, what you gonna do about it.'
Noah went on to debunk the rumour that Tyson gave him £5million when he tied the knot with his daughter as he insisted: 'No Tyson did not give me £5million'.
Meanwhile Venezuela is being eyed up by executives for a fly on the wall TV series.
Noah went on to debunk the rumour that Tyson gave him £5million when he tied the knot with his daughter as he insisted: 'No Tyson did not give me £5million'
Boasting 1.3 million TikTok followers, Venezuela is already entertaining fans with her honest musings and candid moments, from cooking to kitting out her and Noah's static caravan home.
And following the success of the Netflix series At Home With The Furys, it is no wonder bosses are wanting to draw on the Fury popularity.
A TV insider said: 'The couple are not A-list celebrities but everyone has become obsessed with their love story.
'People are genuinely intrigued by them. Whether it’s the fact they have married so young, Venezuela’s famous family or their gypsy lifestyle, they have the ‘X factor'.
'Several TV executives think a proper fly-on-the-wall series following their lives as newlyweds in the gypsy community would be fascinating,' they told The Sun.
It is thought Netflix would be likely to produce the series due to their already established relationship with the Furys.
Venezuela's representatives told The Daily Mail: 'We have many offers on the table regarding Venezuela which we are discussing.'
