Norway ‘sceptical’ about gas price cap: PM

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Norway, which has replaced Russia as Europe’s leading supplier of natural gas, said Monday it was “sceptical” about a gas price cap proposed by a majority of EU members.

“We approach discussions in an open spirit, but we are sceptical of a maximum gas price”, Prime Minister Jonas Gahr Store said in a statement following a phone call with European Commission President Ursula von der Leyen.

“A maximum price does not change the fundamental issue that there is a gas shortage in Europe”, he said. European energy ministers who met Friday in Brussels said they were in favour of a series of measures aimed at combatting soaring gas and electricity prices, with some calling for a cap on the price of gas imports in the EU.

While the European Commission has proposed a price ceiling on gas imported from Russia, several member states, including Italy, called for a price ceiling on all gas bought by EU states, including liquified natural gas (LNG).

Non-EU member Norway, which has benefitted from soaring prices following Russia’s invasion of Ukraine, has until now kept a low profile on the issue, preferring instead to leave it up to oil and gas companies to negotiate their own

contracts. —AFP

 

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