- It is reported that the bloc’s executive arm, also wants to launch a new liquefied natural gas index to better reflect the region’s energy reality after a cut in supplies of pipeline gas from Russia
According to TASS, Russia's state-owned news agency article published on October 18, 2022, the European Union will refrain from imposing a gas price cap for the time being amid political divisions within the union and concerns about securing fuel supplies, Bloomberg reported on Tuesday, citing a draft EU document.
At the same time, "The European Commission proposed measures on Tuesday to avoid extreme price spikes in energy derivatives and to use the EU’s joint purchasing power as a leverage in negotiations with global gas suppliers. The bloc’s executive arm, also wants to launch a new liquefied natural gas index to better reflect the region’s energy reality after a cut in supplies of pipeline gas from Russia," according to Bloomberg.
"The European Commission knows that the European Commission is strong when the European Commission acts together. It is logical that instead of outbidding each other, energy companies should leverage their joint purchasing power," European Commission President Ursula von der Leyen said at a news conference, according to the agency.
