Norwegian Gas Price Negotiations Advance

The EU is negotiating with Norway to introduce a cap on gas prices, a question of "solidarity between allies".

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Capping the price of gas that Norway provides to European countries in search of an alternative to Russian gas, is a matter of “solidarity between allies”, stressed Sunday the European deputy Pascal Canfin.

While the European Union is looking for ways to do without gas from Russia, “a negotiation is underway with Norway to lower the price of gas we buy from the Norwegians. Since we have sharply reduced our purchases of Russian gas, today the main supplier of gas in Europe is Norway,” said on France Inter, the chairman of the Environment Committee in the European Parliament, who hopes “a landing this week” on this subject.

“We share almost everything with Norway, values, democracy, opposition to Putin … except the rent (gas, ed.). Because it costs us about 100 billion euros to buy gas in Norway, and they make money. So it is quite legitimate to agree on a maximum price,” said the former French minister.

For him, “we Europeans are always asked to show solidarity… Very well, but do we have the right from time to time to demand that our partners show solidarity with us? This is a historic moment: we need Norway, the leading gas supplier, and Europe, the leading customer, to show solidarity. So a negotiation is underway, I do not know if it will work, the objective is to have a maximum price.

And the deputy secretary general of the French presidential party Renaissance added: “the next country is Algeria, of which we are now a very large customer for gas. It will be more difficult, but I think that this discussion must take place. And then the United States, the same.

Oslo, through the voice of its Prime Minister, has previously expressed “scepticism” about this price cap.

McDermott has signed a contract amendment with Golden Pass LNG Terminal to complete Trains 2 and 3 of the liquefied natural gas export terminal in Texas, continuing its role as lead partner on the project.
Exxon Mobil will acquire a 40% stake in the Bahia pipeline and co-finance its expansion to transport up to 1 million barrels per day of natural gas liquids from the Permian Basin.
The German state is multiplying LNG infrastructure projects in the North Sea and the Baltic Sea to secure supplies, with five floating terminals under public supervision under development.
Aramco has signed 17 new memoranda of understanding with U.S. companies, covering LNG, advanced materials and financial services, with a potential value exceeding $30 billion.
The Slovak government is reviewing a potential lawsuit against the European Commission following its decision to end Russian gas deliveries by 2028, citing serious economic harm to the country.
The European Union is extending its gas storage regime, keeping a legal 90% target but widening national leeway on timing and filling volumes to reduce the price pressure from mandatory obligations.
The Mozambican government has initiated a review of the expenses incurred during the five-year suspension of TotalEnergies' gas project, halted due to an armed insurgency in the country’s north.
The number of active drilling rigs in the continental United States continues to decline while oil and natural gas production reaches historic levels, driven by operational efficiency gains.
Shell sells a 50% stake in Tobermory West of Shetland to Ithaca Energy, while retaining operatorship, reinforcing a partnership already tested on Tornado, amid high fiscal pressure and regulatory uncertainty in the North Sea.
Russian company Novatek applied major discounts on its liquefied natural gas cargoes to attract Chinese buyers, reviving sales from the Arctic LNG 2 project under Western sanctions.
A first vessel chartered by a Ukrainian trader delivered American liquefied gas to Lithuania, marking the opening of a new maritime supply route ahead of the winter season.
A German NGO has filed in France a complaint against TotalEnergies for alleged war crimes complicity around Mozambique LNG, just as the country seeks to restart this key gas project without any judicial decision yet on the substance.
Hut 8 transfers four natural gas power plants to TransAlta following a turnaround plan and five-year capacity contracts secured in Ontario.
By selling its US subsidiary TVL LLC, active in the Haynesville and Cotton Valley formations in Louisiana, to Grayrock Energy for $255mn, Tokyo Gas pursues a targeted rotation of its upstream assets while strengthening, through TG Natural Resources, its exposure to major US gas hubs supporting its LNG value chain.
TotalEnergies acquires 50% of a flexible power generation portfolio from EPH, reinforcing its gas-to-power strategy in Europe through a €10.6bn joint venture.
The Essington-1 well identified significant hydrocarbon columns in the Otway Basin, strengthening investment prospects for the partners in the drilling programme.
New Delhi secures 2.2 million tonnes of liquefied petroleum gas annually from the United States, a state-funded commitment amid American sanctions and shifting supply strategies.
INNIO and Clarke Energy are building a 450 MW gas engine power plant in Thurrock to stabilise the electricity grid in southeast England and supply nearly one million households.
S‑Fuelcell is accelerating the launch of its GFOS platform to provide autonomous power to AI data centres facing grid saturation and a continuous rise in energy demand.
Aramco is reportedly in talks with Commonwealth LNG and Louisiana LNG, according to Reuters, to secure up to 10 mtpa in the “2029 wave” as North America becomes central to global liquefaction growth.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.