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MNI: Germany Set To Accept Gas Price Cap Tweaks - Officials

Changes to a proposed gas price cap should assuage concerns exports will be diverted, EU officials believe.

Germany looks like accepting European Commission tweaks to a proposed gas price cap to ease concerns that it might cause LNG exporters to divert cargoes to Asia in search of higher prices, with an agreement on the mechanism likely by the end of the year, EU sources told MNI.

Officials believe that the high EUR275 MW/h price cap proposal on TTF month-ahead contracts, as well as a EUR58 maximum spread between TTF spot and LNG prices should be enough to persuade Germany to back the new Market Corrective Mechanism. Current spot prices are around EUR118.393.

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Germany looks like accepting European Commission tweaks to a proposed gas price cap to ease concerns that it might cause LNG exporters to divert cargoes to Asia in search of higher prices, with an agreement on the mechanism likely by the end of the year, EU sources told MNI.

Officials believe that the high EUR275 MW/h price cap proposal on TTF month-ahead contracts, as well as a EUR58 maximum spread between TTF spot and LNG prices should be enough to persuade Germany to back the new Market Corrective Mechanism. Current spot prices are around EUR118.393.

Keep reading...Show less