Ryan Lance, CEO of ConocoPhillips (COP, Financial), emphasized the need for regulatory alignment between the United States and Europe regarding methane emissions. Speaking at the CERAWeek energy conference in Houston, he highlighted that differing regulatory approaches could lead to significant issues, as the EU and US have distinct interpretations of the rules.
Both regions have introduced regulations aimed at significantly reducing methane emissions from oil and gas producers. Methane, a potent greenhouse gas second only to carbon dioxide in prevalence, often leaks undetected from drilling sites, natural gas pipelines, and other oil and gas infrastructure.
Coordination of these regulations is crucial, especially since the intentional sabotage of the Nord Stream pipeline has positioned the US as a primary supplier of liquefied natural gas to Europe.
