On 21 May 2024, the European Council approved a new regulation and directive aimed at establishing common internal market rules for renewable and natural gases and hydrogen. This New Legislation is part of the EU's broader 'Fit for 55' legislative reform package, which seeks to reduce greenhouse gas emissions by at least 55% by 2030. The legislation is designed to facilitate the transition to renewable and low-carbon gases, with a specific focus on promoting the use of renewable gases, particularly hydrogen, over natural gases. Key objectives of the New Legislation include lowering the carbon footprint of the gas market and strengthening supply security by reducing reliance on imported gas. Notable provisions in the legislation include the establishment of dedicated hydrogen networks, a ten-year network development plan, the creation of a new EU entity for network operators, unbundling of networks to avoid discrimination and encourage independence, and respect for the principle of energy solidarity. The New Legislation also encourages progress on biomethane production, leaving production targets to Member States. Once signed, the regulation will be effective six months from the date of publication, with the directive requiring adoption into national legislation within 2 years.