5. By 5 August 2029, the Commission shall assess the potential impact of various levels of maximum methane intensity values associated with crude oil, natural gas and coal placed on the Union market at the level of the producer, and present a report to the European Parliament and to the Council. That report shall include an assessment of the potential reduction of global methane emissions, of the impact on the security of energy supply at Union and national level and on the competitiveness of the Union’s economy, and of the potential global and regional market distortions. That report shall also include a market assessment with regard to the methane intensity of current and future supplies to the Union until 2049 through both long-term contracts and spot purchases. That assessment shall analyse the situation per Member State, taking into account contractual commitments entered into before 4 August 2024, energy infrastructure capacities and potential constraints.