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EU signals shifts towards price cap on imported gas

To bring down soaring energy costs

05 October, 11:25
(ANSA-AFP) - STRASBOURG, OCT 5 - The EU is "ready to discuss" a price cap on imported gas to bring down soaring energy costs, European Commission chief Ursula von der Leyen said Wednesday.

Her comment, to the European Parliament, signalled a shift in tone in Europe after powerhouse EU country Germany had expressed worries that a broad price cap might divert supplies for Europe.

It comes after 15 EU countries -- more than half the bloc -- made a joint call for the EU to impose a price ceiling on how much it would pay for gas piped or shipped in, as the northern hemisphere winter bears down. Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in the price for gas. Russia, which used to be Europe's main gas supplier, has turned off the taps after being hit by EU sanctions over the war in Ukraine that, while not touching gas, crimped sales of its more lucrative oil exports.


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