The Italian Minister called the possible parameters of the gas price limit in the EU

ROME, Sep 14 – PRIME. The ceiling for gas prices in the EU could be about 60% of the exchange price at one of the largest gas hubs in Europe TTF, Italian Minister of Ecological Transition Roberto Cingolani said, speaking on Rai 1 TV channel.

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Earlier, Chingolani emphasized that it makes no sense to set a price ceiling exclusively for Russian gas, since at present it already reaches Europe in very limited volumes. According to him, the Council of EU Energy Ministers instructed the European Commission to prepare the introduction of a price ceiling. His project, the minister noted, should be ready by October. After the ministerial meeting, Chingolani said that 15 EU countries supported the introduction of a price ceiling on gas imports to Europe, three approve it in the case of supplies from the Russian Federation, five oppose or take a neutral position.

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The gas price ceiling could be “between 60% and 65% of the Amsterdam TTF price” or “may be linked to the LNG price,” the minister said on Tuesday.

In this regard, Chingolani said that in the near future the government will submit a document according to which 2 billion cubic meters of natural gas produced in Italy will be sold “at a very low price.”

The minister also announced that a government decree would be adopted as early as Wednesday, according to which 20 terawatt-hours of electricity will be sold at a “controlled price” to energy-intensive companies, a list of which is agreed with the EU.

The head of the European Commission, Ursula von der Leyen, announced the need to introduce a price ceiling for Russian gas. At the end of August, she announced that the European Commission is working on prompt and long-term measures to improve the situation against the backdrop of rising electricity prices in the EU, which mainly depend on the cost of blue fuel. The Council of Energy Ministers of the EU instructed the European Commission to prepare a project for the introduction of a gas price ceiling by October.

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Russian President Vladimir Putin, commenting on the West’s idea to limit prices for Russian energy resources, said that Russia would not supply anything abroad if it would be contrary to its own interests.


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