Norway refused to cut gas prices for Europe
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Minister of Energy and Petroleum of the Kingdom of Norway, Terje Osland, said that his country will not reduce the price of natural gas for importers in the European Union, despite the energy crisis. A quarter of gas supplies to Europe come from Norway.
“Oil companies operating on the Norwegian continental shelf operate on a commercial basis,” the minister said in an interview with the newspaper. E24 Nringsliv. According to the minister, the Norwegian government will not impose contracts on businesses at below market prices. Terje Osland also recalled that the European Union abandoned the practice of long-term contracts in favor of spot contracts 20 years ago.
August 18 newspaper Financial Times citing sources, she said that the heads of EU companies that import Norwegian gas are “privately” asking Norway to “agree to gas exports at a reduced price.”
Equinor, a state-owned Norwegian company, in the face of rising gas prices, plans to make a profit from the export of raw materials in the amount of about €100 billion in 2022, in 2021 its profit amounted to €30 billion.
Gas prices in Europe have been rising all week. On August 25, the price of spot September futures on the London Stock Exchange reached a record level since the beginning of March: at the moment the price rose to $3,300 per 1,000 cubic meters. m.
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