Ministers warn of potential energy disaster for EU in 2023

TEHRAN, Nov. 25 (MNA) – The EU is currently paying more for gas than any other region in the world. The European Commission had proposed to cap natural gas prices at €275 per megawatt hour.

The idea was totally rubbished by the bloc's energy ministers at a meeting on Thursday.

But any sort of a cap could result in gas suppliers moving their tankers to other parts of the world where there is no cap, like Asia.

As things stand, in the EU there is no guarantee of a manageable gas price or even a gas supply for 2023.

Those representing small to medium sized businesses are looking for EU support amid high inflation and growing interest rates.

A debate in the European Parliament this week on promoting stability in the Middle East heard that the initiative would help ensure energy security for the EU. However, one lawmaker raised the West's previous actions in the region.

EU energy ministers will meet again on the 13th of December to try and reach agreement on the vital question of 2023 gas supplies. Analysts say this crisis best illustrates how sanctions against Russia have backfired.


News Code 194058


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