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EU Ministers Meet Friday to Discuss Energy Crisis Plans - Including Russian Gas Price Cap

NATURAL GAS

EU ministers are set to meet on Friday to discuss setting up caps on Russian natural gas prices as well as other options to deal with the European energy crisis according to Spain’s Energy Minister Teresa Ribera.

  • The European Commission has released to delegates plans to include caps on the price paid by EU countries for Russian gas pumped through pipelines or delivered by sea.
  • "We have told Spanish companies and those who operate on the industry it is important to get prepared and get guarantees ahead of a potential limit on the access to gas tankers with liquefied gas from Russia," Ribera said.
  • As well as Russian gas price caps, ministers are considering options including a price cap on imported gas, a price cap on gas used to produce electricity, or temporarily removing gas power plants from the current EU system of setting electricity prices.

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