EU summit fails to agree gas price ceiling

The EU summit failed to agree on a ceiling on gas prices, as well as on the principle of common energy resource purchases. This is stated in the final statement of the EU energy summit, transmits TASS.

The EU added that they had made progress on this issue, but decided to postpone the final decision until December 19.

December 11 Bloomberg found out about disagreements on the issue among the countries of the Commonwealth. Thus, a group of 12 states, including Belgium, Greece, Italy and Poland, on the eve of an emergency meeting of EU energy ministers called for lowering the price ceiling for gas from the Russian Federation. December 13, Hungarian Foreign Minister Peter Szijjártó informedthat EU energy ministers failed to agree on a gas price cap.

The European Commission has proposed launching a mechanism to limit gas prices if two conditions are met. First, the price of gas exceeds 275 euros per MWh for two weeks. Second, the price of TTF is 58 euros higher than the base price of LNG for 10 trading days. At the same time, the Czech authorities called for a reduction in the price limit to 220 euros.

The Kremlin has repeatedly stressed that Russia will not supply energy to countries that join the price ceiling.

Despite this, on December 3, the EU countries agreed on a price ceiling for Russian oil in the amount of $60 per barrel. The restriction came into effect on December 5. In addition to the EU countries, the G7 countries, Norway and Australia also joined the ceiling.

Earlier today, Russian Presidential Press Secretary Dmitry Peskov informedthat the decree of the head of state in response to the introduction of the oil price ceiling is expected this week.