The EC considers more realistic limits on pipeline gas, and not on LNG

BRUSSELS, 7th — PRIME. The introduction of a price limit on pipeline gas from Russia looks like a more realistic option than similar restrictions on LNG, according to an informal document of the European Commission, prepared for an extraordinary meeting of EU energy ministers.

It outlines several measures aimed at mitigating the problems in the electricity market, which the European Commission is currently considering and plans to present to the union’s energy ministers on 9 September.

As the head of the EC, Ursula von der Leyen, noted, the European Commission wants to propose the introduction of a price ceiling for Russian gas, and is also studying the possibility of setting limits on the cost of LNG.

The EC paper’s paragraph on “lower gas prices” notes that imposing a hard cap on LNG prices would create supply security risks by allowing suppliers to divert supplies to other regions. Therefore, the European Union should negotiate to reduce the cost of LNG.

On the other hand, our reduced dependence on Russian gas makes introducing a price cap on pipeline gas imports a more realistic option.

As a source in the EU told reporters on Wednesday, the European Commission has not yet made specific proposals to limit the prices for Russian gas imports in the European Union, the issue must first be discussed with the countries of the region.