Offer for European Union adopt a “dynamic price corridor” for natural gas compiled by EU countries that want to limit import prices, including Greece, Italy and Poland, in an attempt to cope with high energy prices and high inflation.

“The corridor will apply to all wholesale transactions, not limited to imports from certain jurisdictions, and not limited to specific uses of natural gas,” the country’s draft proposal read by Reuters said.

According to the proposal, the ceiling should be set at a flexible and high enough level to attract suppliers. It is even envisaged to conclude transactions at prices above the “corridor”, if necessary to attract gas suppliers to cover the required volumes. The “corridor” will also affect existing long-term contracts for the supply of natural gas.

According to his information moneyreview.grThe proposal provides for a ceiling on natural gas imports to European Union countries, but also allows for bilateral contracts to sell natural gas within the European Union at a price higher than the import ceiling, if and when necessary.

As Environment and Energy Minister Kostas Skrekas explained during a press conference he gave earlier on Thursday, the Greek proposal provides for a variable price cap due to price fluctuations on international stock exchanges in order to “ensure, on the one hand, the supply of the European market and, on the other hand, price containment. The Minister of Environment and Energy noted that consultations with European countries (including mainly Germany and the Netherlands) are ongoing.

The introduction of a temporary cap on natural gas prices will be at the center of an informal EU summit. in Prague on Friday.

How the Commission’s “pivot” is changing the landscape

The European Commission will come to tomorrow’s informal summit of its 27 member states with the intention of uniting the conflicting trends within Europe around a natural gas price ceiling.

The positions of Greece and the Bloc of 15, united around the Greek proposal to impose a ceiling on import prices for natural gas of any origin, are gaining strength, at least according to what is reflected in yesterday’s report. Letter from Commission President Ursula von der Leyen heads of member states.

As European diplomats reported yesterday, there appears to be a window of opportunity from the European Commission, with other sources focusing on the unity of the 15 member states signing a letter (backed by Greece, Italy, Belgium and Poland) for a general natural gas cap, stressing that they will put pressure on the upcoming informal meeting and ask for a “strong political signal” to lower gas prices.

^{According to REUTERS}