EC sees Russian gas price cap more possible than LNG caps

BRUSSELS, Sep 8 (PRIME) -- Introduction of a price cap for Russian pipeline gas is a more feasible option than similar restrictions for the liquefied natural gas (LNG), as seen by PRIME late on Wednesday in an unofficial document of the European Commission (EC) prepared for the Friday meeting of the E.U. energy ministers.

European Commission’s President Ursula von der Leyen said earlier that the commission would prepare five proposals to solve the European energy crisis, including a price cap for Russian gas and possible limits for the LNG prices.

In the document, the commission says that a strict limit of LNG prices would cause risks for security of energy deliveries as suppliers will be able to redirect LNG flows to other regions. At the same time, the E.U.’s reduction of dependency on Russian gas makes the pipeline gas price cap a more feasible option.

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