Norway PM to meet gas producers to discuss gas sales to Europe

Norway's Prime Minister Jonas Gahr Stoere will meet on Thursday with gas producers to discuss long-term supply contracts that may help to stabilize prices on gas sales to Europe, he told the country's public broadcaster NRK on Tuesday. "It is not in Norway's interest to have the current instability.

Norway's Prime Minister Jonas Gahr Stoere will meet on Thursday with gas producers to discuss long-term supply contracts that may help to stabilize prices on gas sales to Europe, he told the country's public broadcaster NRK on Tuesday.

"It is not in Norway's interest to have the current instability. I would much rather see those prices to stabilize, preferably at a lower level," he added. Stoere, however, repeated that setting a price cap on gas, as suggested by some European buyers, could negatively impact supplies and would be a "bad choice".

European Union energy ministers will attempt to approve new bloc-wide measures to pull down soaring gas and power prices at an emergency summit on Sept. 30. EU diplomats say there is broad support for the revenue cap for non-gas generators, as well as plans to impose electricity demand cuts, but countries are split over a gas price cap.

Norway has become Europe's top pipeline gas supplier as Russia cut its deliveries, with Moscow blaming the cuts on technical issues caused by Western sanctions over its invasion of Ukraine. Norway's majority state-owned Equinor, Shell , Wintershall Dea, TotalEnergies, Vaar Energi and ConocoPhillips are among the top gas producers in Norway.

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