G7 Germany, “gas price cap in the final statement”

This was reported by a senior EU official from Elmau where the summit is held

The final communiqué of the G7 in Germany, closed late yesterday by the Sherpas, contains a direct reference to the advisability of introducing a cap on the price of gas, a request that the Prime Minister Mario Draghi has been reiterating for some time at EU level. This was reported by a senior EU official from Elmau where the summit is held. “Yes”, there will be an explicit mention of the gas price ceiling, he says, so not just the oil price ceiling. Obviously, the modalities with which to realize a price cap on methane will have to be studied: “There are many issues that need to be discussed – explains the source – and many technical aspects” to be evaluated. The press release should be released soon, in the morning.

Even if the introduction of a price ceiling is considered for both oil and gas, they are two different things: on the first, the source explains, the press release is “more detailed” because “we are further ahead”, on gas ” less “, because the discussion has advanced less. It will also be necessary to discuss whether to introduce the cap only on gas coming via pipeline from Russia, but if so, it will be necessary to decide what to do for liquefied natural gas, which arrives by ship.

In Europe, dealing with oil should be relatively easier because “90%” comes by sea. For the EU source, however, if a ceiling on the price of oil is introduced, it will not be necessary to reopen the sixth package of sanctions, which was approved only after 4 weeks with significant exemptions, because they are “technical adaptations”.