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The European Union should impose a radical plan to cut the cost of energy by capping the price paid for gas imported from anywhere else in the world, Belgian Prime Minister Alexander De Croo said in an interview
cap only on gas imported from Russia...the [sic] mounting economic crises, fueled by Russian President Vladimir Putin's invasion of Ukraine ...cutting gas supplied to the bloc in retaliation for sanctions imposed on Moscow by Brussels
Under De Croo's proposal, the cap on all [EU27] gas imports would need to be implemented in a "dynamic way" [EUR-denominated value band; See EC draft] to ensure that there was still a reason [other than "sustainable" value-add/margin/profit transactions?] for traders to sell gas [produced by "third-countries" anywhere] to Europe rather than, for example, in Asian markets. Asian [LNG] prices are currently about half of those in Europe ["ex-post": "a few euro" freight by wght + P&I + customs FTE admin], De Croo said. If Europe sets The Price Cap 5 percent higher than [JKM] Asia [index], he explained, "all traders in the world will still continue to sell in Europe, because you they still get a price that is more attractive greater than Asia buyers can afford."
Asian [LNG] prices are currently about half of those in Europe ["ex-post": "a few euro" freight by wght + P&I + customs FTE admin], De Croo said. If Europe sets The Price Cap 5 percent higher than [JKM] Asia [index], he explained, "all traders in the world will still continue to sell in Europe, because you they still get a price that is more attractive greater than Asia buyers can afford."
Earlier on Thursday, Belgium's Energy Minister Tinne Van der Straeten went even further and said Belgium would not support the Commission's plan to impose a price cap specifically on Russian gas imports. "A cap on Russian gas only is a purely political objective," the Green politician told reporters. "I don't see the added value in that. We will not agree to this."
"A cap on Russian gas only is a purely political objective," the Green politician told reporters. "I don't see the added value in that. We will not agree to this."
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