Oil and Gas Daily reports that officials of the European Parliament and the Council reached an agreement on the provisional legislations that oversee a reduction of the greenhouse gas emissions levels coming from fossil fuels.
While the law passed without issues among the European officials, it now has to get approval from the presidents of each of the 27 states that make up the bloc, as well as the Parliament.
The proposed piece of legislation aims to force oil, gas and coal companies to assess their contributions to the overall methane emissions, by conducting regular atmospheric monitoring for planet-warming emissions. At the same time, EU officials want to forbid the controlled burning of natural gases at refineries and other similar facilities.
The law would also imply that, by 2027, pollutant gases won't be allowed to be released into the atmosphere without combustion.
An additional provision in the law package is the limit of oil and gas imports, which account for 80% of EU's annual consumption. Thus, companies will have to adapt to even tougher emission standards, before suppliers will be able to resume fossil imports.