Bloomberg: UK in talks with Norway over gas supplies

MOSCOW, 4 Oct — PRIME. The UK is in talks with Norway over a long-term gas supply deal amid a potential power outage this winter, Bloomberg reported, citing people familiar with the matter.

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1 Britain in a panic due to the possible cessation of gas supplies from Norway

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Britain in a panic due to the possible cessation of gas supplies from Norway

“The UK is in talks with Norway to conclude a contract for the supply of natural gas, possibly for 20 years,” the agency said in a statement.

At the moment British ministers are discussing the cost of the contract with their counterparts from Norway, a source who wished to remain anonymous told the agency. The UK Department of Energy has not yet commented.

This could threaten the UK with a huge amount of money to spend on energy due to the long term of a possible contract and high prices in the market, the agency writes.

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On Tuesday afternoon, British Prime Minister Liz Truss said that in addition to increasing domestic energy production, Britain is considering entering into “long-term energy contracts with other countries.” However, she added that she has not signed any deal yet.

Earlier, the British energy regulator Ofgem said that the country is facing a gas shortage amid the energy crisis and pointed out that a number of gas-fired power plants could go bankrupt and stop working. In this regard, Britain may declare a “state of emergency in the field of gas supplies.”