The European Commission announced the risks of introducing a strict cap on LNG prices

MOSCOW, 7 Sep — PRIME. The imposition of a severe restriction on liquefied natural gas (LNG) in the European Union could lead to a decrease in the reliability of the region’s supply, therefore, in particular, negotiations are needed to reduce its cost. This is stated in an informal document of the European Commission to the emergency council of EU energy ministers.

“The imposition of a hard price cap on liquefied natural gas creates supply security risks by switching supplies to other regions. At the same time, Europe is facing a global competitiveness challenge due to the high prices it has to pay to secure LNG supplies,” the statement said. report.

It is noted that the EU energy platform should negotiate price reductions and secure supplies, while offering a long-term perspective with a gradual transition to renewable energy sources.

It is also emphasized that the Commission should explore other measures to lower LNG prices.

The European Commission is studying the possibility of imposing a price cap on LNG in the European Union, but wants the region to remain competitive for suppliers of this fuel, European Commission President Ursula von der Leyen said on Wednesday.