Proposed cap for wholesale gas prices
Letter from Europe: Retail gas market intervention safer than wholesale
The EU’s proposals to cap wholesale gas prices could result in unintended consequences
The European Commission has an impossible task: to advance a legislative proposal that seeks to limit upside to gas prices without simultaneously endangering security of supply. Any price cap is market distortionary by nature and entails very significant risks as it can limit Europe’s ability to attract LNG. Additionally, a cap set at or below market prices could curtail the market’s ability to trigger the demand reductions necessary to inject enough gas into storage over the course of next summer in preparation for winter 2023–24. As a result, there are only two ways in which a price cap could be implemented while still limiting its dangers to Europe’s security of supply. One option would b
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
