France is ready to consider the introduction of a cap on prices for Russian gas

France is ready to work on the introduction of a ceiling on gas prices, but is also considering other measures to limit the price of this fuel – the priority is the pan-European purchase of energy carriers. About it declared Economy Minister Bruno Le Maire in a published interview with Corriere della Sera.

“In order to lower gas prices, we see the implementation of general purchases as a priority for ourselves. This would allow to have more influence from a commercial point of view on the supplier countries. The second solution is to diversify supplies, including through the construction of LNG terminals. The third solution is a price ceiling. It is difficult to implement it, but we are ready to work on it with our Italian partners,” the minister said.

The Economy Minister also spoke about the impact of European sanctions on the Russian economy. “They (sanctions –”b”) … are politically justified and will be even more effective in the long term,” he said.

Russia’s share in the French gas market was 17% until February. The largest supplier of gas to France is Norway (36% of the market). Now Paris is negotiating with Algeria to increase supplies.

2 September European Commission President Ursula von der Leyen declared that the time has come to impose price caps on pipeline gas from Russia. “Seven” September 2 agreed limiting the price of Russian oil.

Gas prices in Europe are rising due to the reduction of Russian and Norwegian supplies. In addition, the price is affected by heat and drought, which make it difficult to transport coal along the rivers and complicate the operation of windmills. Now the price of 1 thousand cubic meters. m of gas is $2197. The record price was fixed in March: then it was $3892. In August, prices were close to record highs.

Read about the situation in the energy market in the material “Oil and gas covered ceilings”.

Julia Abugalieva