Natural gas emits roughly half the CO2 emissions of coal when burned in power plants. But gas infrastructure is also associated with emissions of the greenhouse gas methane
Oil major BP has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world.
The European Commission- aiming to reach net-zero greenhouse gas emissions by 2050 – had planned to omit gas-fueled power plants from a new list of investments that can be marketed as sustainable, but delayed the decision last month following complaints from some countries and companies.
Britain’s BP was among those lobbying against the plan. In a December 2020 response to the Commission’s public consultation on the issue, it said the new rules could threaten financing of gas projects, and obstruct a shift away from more polluting coal.