Norway refuses to cut EU gas price amid energy crisis
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Norway will not reduce natural gas prices for importers in EU countries even against the background of the energy crisis, transmits newspaper E24 referring to the Minister of Oil and Energy of the Kingdom Terje Osland.
“Oil companies operating on the Norwegian continental shelf operate on a commercial basis,” said Osland. According to him, the government will not impose on business contracts for the supply of gas with a fixed price below the market.
The Minister recalled that 20 years ago, Brussels itself abandoned the practice of long-term contracts in favor of the spot market, and now the Norwegian system allows companies to conclude contracts and sell fuel based solely on economic interests.
On August 18, the Financial Times, citing sources, reported that the heads of EU companies that import Norwegian gas are “privately” asking Norway to agree to gas exports at a reduced price.
A spokesman for the Kingdom’s Oil and Gas Association Offshore Norg, in turn, announced that Norway plans to increase natural gas exports to the European Union by connecting offshore hydrocarbon production platforms on the continental shelf to the network.
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