EU postpones discussion on Russian gas price ceiling until December

EU energy ministers have postponed a decision on the gas price ceiling until December, the Hungarian foreign minister said. Russia has repeatedly stated that it will stop supplying energy resources to countries that “make political decisions” about the ceiling

EU postpones discussion on Russian gas price ceiling until December

European Union energy ministers failed to agree on a price ceiling for Russian gas at a meeting on 24 November. The next meeting will be held, presumably on December 13, Hungarian Foreign Minister Peter Szijjártó said, Reuters reported.

“No decision was taken at the meeting today that would meet the overall objectives of the European Commission because a large part of the member states, including us, have defended the view that decisions on solidarity measures in the gas market cannot be taken without, in our view, improperly interfering in the gas market,” he said.

The Hungarian foreign minister said that the proposals made at the meeting were unsuccessful because they threatened Europe’s energy security.

As Politico specifies, the ministers reached an informal agreement on the least controversial elements of the package of measures to combat the energy crisis, but could not agree on the final mechanism. Representatives from Belgium, Spain, Italy, Poland and Greece made it clear they would not agree to the package as a whole until the mechanism had been worked out thoroughly.

Earlier, La Repubblica said that the EU might postpone the discussion until the next summit. The newspaper noted that according to the EU plan, the restriction would come into force if the price of gas for at least two weeks exceeds €275 per MWh on the Amsterdam exchange, and the difference with the LNG price must be greater than €58 for at least ten days. According to the publication, even at times of peak prices, these two conditions have not been met at the same time.

Source: Politico

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