OSLO, Oct 27 (Reuters) – European Union Energy Commissioner Kadri Simson said on Thursday she had informed Norwegian officials about planned “emergency measures” to address high energy prices, including a price cap on natural gas.
EU energy ministers this week discussed proposals to contain and potentially cap gas prices that have soared in the wake of the war in Ukraine and as Russian supplies have dwindled.
Norway has become the most important natural gas supplier to the EU, accounting for 25% of all EU imports, after a drop in Russian gas flows.
“We have to find solutions that help us to calm down the gas market in a way that our consumers and businesses can continue operating and not lose their level playing field against other global market regions,” Simson told a news conference.
However, no decision had yet been made and work continued to address questions on how a price cap will secure supply and over its design, she said, speaking after meeting Norway’s Oil and Energy Minister Terje Aasland.
EU energy ministers will meet again on Nov. 24, with Simson not ruling out a proposal before that date.
“I think the Norwegian government …, we have been very clear that this solution will find place in a commercial framework and that is still our message. But I think dialogue is important in this difficult time,” Aasland said during the same news conference.
Simson also said the Commission planned to establish a platform for joint gas purchases that could cover at least 15% of the EU’s gas storage capacity.
Reporting by Nora Buli and Nerijus Adomaitis
Editing by Gwladys Fouche and Frances Kerry
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