Germany and the Netherlands have proposed a package of 10 measures that the European Union could use to curb gas prices and avoid fuel rationing, including looking into setting a new benchmark price for liquefied natural gas.
energy ministers meet
The two countries said they were open to the EU creating a new LNG benchmark, and asked the European Commission to develop this, while assessing whether such a price needed to remain voluntary. They said a broad gas price cap on imports was a less preferable option.
The document, first reported by Bloomberg, instead recommended that the EU should launch negotiations with non-Russian suppliers like the United States, Algeria and Norway, to attempt to bring down prices. Brussels proposed a Russian gas price cap last month, but shelved the idea after resistance from central and eastern countries that feared Moscow would retaliate by cutting off the limited supplies it still sends to Europe.
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