“If Europe limits the price of natural gas, it will backfire,” says Norwegian PM

“If Europe limits the price of natural gas, it will backfire”says the prime minister of Norway Jonas Gar Stere arguing that the correct choice is the formation of the price by the markets.

The Prime Minister of Norway, in an interview with four European Media, including the French newspaper Les Echos, rejects the accusations of “war profiteering”, which were launched against his country on the occasion of the war in Ukraine, and calls on the EU, if it wishes to enter into long-term contracts, to accept that natural gas will remain necessary for a long time during the energy transition.

The Norwegian prime minister notes, among other things, that it is not in his country’s interest to have high and volatile natural gas prices, as they directly affect electricity prices, which, he underlines, have increased tenfold, at a time when most Norwegians they heat their homes with electricity. He emphasizes at the same time that the crisis affecting European industry is not to Norway’s advantage, given that most Norwegian industries cooperate closely with European ones.

Regarding the sanctions against Russia, Jonas Gar Stere notes that “it is up to historians to judge their true effectiveness on the Russian economy”, however calling their imposition “correct”. “Europe’s move to immediately respond to Russian aggression was correct, and Norway followed through on all the ‘sanctions packages’,” he says, pointing out that “sanctions produce results in both directions, but the most important consequences are borne by the Ukrainian people, the who receives daily attacks. So we must do whatever is necessary to support Ukraine in its legitimate defense and to support sanctions against Russia.”

RES-EMP

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