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
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources
26 March 2024
Strategic stocks have become as much a market management tool as a security of supply buffer, and this new tactic is likely to continue beyond the next election
25 March 2024
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030
22 March 2024
And the outlook for the country’s upstream appears to have improved following legal setbacks in 2023