Like viewer Werner Delsiene, Luc Pauwels has not heard anything more about the Belgian proposal. Pauwels also questions the feasibility of the Belgian proposal. According to our energy specialist, it is very unlikely that the European Union will be able to freeze the gas price in practice.
“The gas price is a world price: the price is set all over the world,” explains Luc. “If Europe were to decide to pay a maximum of a certain price to buy gas, and if at the same time China is willing to pay more, then all gas tankers will turn around and head for China instead of Europe.”
Pauwels fears shortages in such a scenario. That is why he does not see it happening immediately that Europe will cap gas prices. “That’s probably why we don’t hear anything about this idea for a while. I assume they are still trying, but the problem is that the gas market is a global market and that others threaten to offer more if Europe decides to limit the price.”
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