Norway 'sceptical' about gas price cap: PM

AFP , Monday 12 Sep 2022

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.

Norway PM
In this file photo Norway s Prime Minister Jonas Gahr Store speaks during the World Leaders Summit of the COP26 UN Climate Change Conference in Glasgow, Scotland, November 2, 2021. AFP

 

"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.

The Scandinavian country recently replaced Russia as Europe's leading gas supplier, due to plunging Russian deliveries and an eight percent increase of its own deliveries.

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