Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Kommersant FM on the discussions surrounding the introduction of a new "cap" on gas prices in the EU:
"This is a bad idea in terms of market saturation. The EU market has continued to exist for three years now in conditions of almost chronic gas shortages precisely due to exchange pricing. The increase in gas prices is very sharp, it negates the effect of a sharp drop in supply. If we abandon this and introduce some fixed restrictions, it undermines the possibility of repeating the economically successful experience of 2022-2023, when the market was saturated. In 2025, the EU faces approximately the same problem, but not so acute. The gas shortage is getting worse again. For the European market, I see no other option this year to balance supply and demand, except to keep prices high, and higher than in Asia. This is good for Russian suppliers, and for Gazprom and NOVATEK it means an additional increase in revenue due to higher prices."
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