(MENAFN) The European Union's plan to impose an artificial price cap on Russian natural gas is opposed by Norway, according to the nation's Oil and Energy Ministry.
A ministry spokeswoman, Stein Grimsrud, told the news organization Izvestia, “this could exacerbate the problem Europe already faces, namely gas shortages.”
After Russian gas shipments decreased as a result of sanctions and technical issues, Norway has emerged as a significant gas supplier for the European Union. Kadri Simson, the European Commissioner for Energy, recently stated that since the year's beginning, the proportion of gas imported into the EU from Russia has decreased from 41 percent to 9 percent. With a 20 percent share of the European Union's gas requirements, Norway used to be the second-largest gas provider in the European Union. Oslo granted permission this summer for the extraction of gas from seven additional offshore fields, resulting in an 8 percent increase in gas output this year over last year.
The ministry also declared its intention to provide the European Union with roughly 122 billion cubic meters of gas this year. Prior to 2022, Russia used to provide the European Union with roughly 130 billion cubic meters of gas annually through pipeline and 20 billion cubic meters of LNG.
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