[[ GasHub Price Forecast unit: USD/mmbtu)
Opposition parties have made notable gains in the recent EU elections, possibly upsetting the power balance; and some experts have expressed concern about the pressure on the European Union’s green transition. Bas Eickhout, head of the European Parliament’s Greens lawmaker group, states that existing policies will remain unchanged, but passing new green laws is likely to become more difficult. Growing opposition groups in EU parliaments argue that current climate policies impose a significant financial burden on industries and citizens, leading to higher inflation, and living expenses. While there is no major shift in EU policy for now, it is foreseeable that passing ambitious EU climate policies will become more challenging after the recent election.
Conclusion
With the current state of biomethane production, it is quite difficult to achieve the goal of 35 bcm production by the end of 2030. They mentioned not only the growth rate and price but also the environmental impacts and sustainability that would be re-evaluated. The new European Parliament will also have a significant impact on climate policy and targets. As a result, given the current trend, biomethane is unlikely to have a significant impact on the overall gas market in Europe by 2030.
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