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Canada, EU Welcome UN Call to Action on Methane; US, Qatar Oppose EU Proposed Rules

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Canada and the EU have welcomed the United Nations Secretary-General's call to action on methane, supporting the 2030 target of at least a 30% reduction in global emissions relative to 2020 levels, according to a joint statement on Tuesday.

"While urgent action is needed across all sources of methane, globally, the largest potential for immediate methane reductions is in the fossil fuel sector," the statement said, highlighting that both Canada and the EU are doing their part to meet the target.

The EU has a draft regulation that sets monitoring and reporting standards for methane.

This, however, has met with opposition from gas suppliers, mainly the US and Qatar, as written in a draft letter to be sent to European Commission president Ursula von der Leyen and European Council president Antonio Costa, Financial Times reported on Tuesday.

The gas exporters argued that the EU's methane rules will tighten supply and raise prices, the report said, as buyers and suppliers both hesitate to enter into agreements that may violate the EU law.

The European Commission has already indicated that it will provide some flexibility and will not penalize exporters through 2030, although several member states called for a postponement for at least three years, FT reported, citing another draft letter.

The Commission did not immediately respond to' request for comment.

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