The EU has proposed a gas price cap
Equinor warns on gas price cap complications
The Norwegian producer stresses that imposing a maximum price will not solve underlying issues
Norway’s Equinor sells gas to Europe on contracts linked to the market price or on a spot basis, so will be benefitting substantially from European gas prices that have spiked yet again this week after Russia failed to return the Nord Steam 1 pipeline to service. So, it is perhaps no surprise that Helge Haugane, Equinor’s senior vice-president, gas and power, was put on the spot at Gastech in Milan on Wednesday on the EU’s idea of introducing a gas price cap. Initial proposals seem to focus on a ceiling for Russian purchases only. But it is hardly beyond the bounds of possibility that, if it could be made to work, the cap could be extended to other suppliers. For Haugane, whether the concept
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
