The US and Qatar have warned that the European Union could face higher gas prices and supply shortages unless it changes planned methane emissions rules, the Financial Times reported Tuesday, citing a draft letter seen by it.

They argue that most global oil and gas exporters would be unable to comply with the proposed requirements, which would introduce monitoring and reporting standards for methane emissions across supply chains.

The warning, led by US and Qatari energy officials and sent to EU leaders ahead of an energy ministers' meeting, says there is a "narrow window" to change the rules. Algeria and Nigeria also backed the letter, according to the report.

The European Commission, the US Department of Energy and Qatar's Government Communications Office did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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