The European Commission is ready to allow state regulation of gas prices in the event of a cessation of supplies from the Russian Federation

EU may abandon long-term gas contracts

The European Commission (EC) noted that in such exceptional circumstances, EU member states should be allowed to regulate consumer prices by the state during a transitional period, RBC writes on Saturday, May 14th.

The EC is ready to come to this decision if the supply of Russian blue fuel stops. Thus, the European Commission hopes to control the sharp rise in gas prices.

Earlier, Naftogaz Ukrainy stated that it was no longer responsible for the transportation of gas in uncontrolled territories, calling it “force majeure.” A “GTS Operator of Ukraine” spoke about the termination of transit through the GIS “Sokhranovka” and the compressor station “Novopskov” from May 11which are under the control of Russian forces (in the LPR), allegedly due to force majeure.

In turn, “Gazprom” said that he was not provided with confirmation of force majeure. Gazprom assured that they fully fulfill their obligations to European consumers.

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