Norway Opposes The EU's Price Cap On Russian Gas
Norway is against the EU proposal of setting an artificial price ceiling on Russian natural gas, according to the country’s Oil and Energy Ministry 💬 “This could exacerbate the problem Europe already faces, namely gas shortages,” Stein Grimsrud, a ministry spokesman, told the Izvestia news outlet. ● Norway has become a key gas supplier for the EU after Russian flows dwindled due to sanctions and technical problems. The share of gas imported to the bloc from Russia has dropped from 41% to 9% since the beginning of the year, European Commissioner for Energy Kadri Simson recently said. Norway used to be the EU’s second-largest gas supplier, covering around 20% of its needs. This summer Oslo approved permits for gas extraction at seven new offshore fields to increase gas production in 2022 by 8% compared with 2021.