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Norwegian PM Maintains Stance on Gas Price Cap

NATURAL GAS

Norwegian PM Jonas Stoere is meeting with gas producers tomorrow to discuss long-term supply contracts to stabilize prices on gas sales to Europe.

  • “It is not in Norway’s interest to have the current instability. I would much rather see those prices to stabilize, preferably at a lower level,” he added.
  • He has backed away from setting a gas price cap as Norway has emerged as the biggest pipeline gas supplier to Europe – overtaking Russia.
  • European Union energy ministers will attempt to approve new bloc-wide measures to pull down soaring gas and power prices at an emergency summit on Sept. 30.

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