Wednesday, 09 March 2022
Author: Kevin Lim
On 08 March 2022, the European Commission (EC) outlined a proposal to accelerate independence from Russian fossil fuels which included provisions for sourcing biomethane.
The call for rapid green energy has been given additional impetus by the current Ukraine crisis
The REPowerEU plan sets a goal of 35 bcm biomethane production in the EC by 2030. In conjunction with measures to reduce gas consumption overall, this should see the current biomethane share rise from approximately under 5% currently to approximately 15% by 2030.
It should be noted that the biomethane target is essentially the same as that recently promoted by the European Biogas Association mid-February.
Market impact
This is bullish news for the biomethane certificates markets, such news is likely to stimulate demand in voluntary sectors i...