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    1. Home
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    3. >Europe should not set a cap on gas prices, Norway's prime minister says
    Finance

    Europe should not set a cap on gas prices, norway's prime minister says

    Published by Global Banking & Finance Review®

    Posted on March 12, 2026

    1 min read

    Last updated: March 12, 2026

    Europe should not set a cap on gas prices, Norway's prime minister says - Finance news and analysis from Global Banking & Finance Review
    Tags:FinanceMarketsEnergy

    Quick Summary

    Norway’s Prime Minister Jonas Gahr Støre on March 12 urged Europe not to impose a price cap on natural gas, warning it could backfire. He reaffirmed Norway’s commitment as a reliable supplier amid price surges sparked by the U.S.–Israeli war on Iran.

    Norway's Prime Minister Opposes Gas Price Cap for Europe Amid Soaring Costs

    Norway's Stance on European Gas Price Cap

    Prime Minister's Statement on Gas Price Cap

    OSLO, March 12 (Reuters) - Norway's Prime Minister Jonas Gahr Stoere said on Thursday that it would be unwise for Europe to cap the price of natural gas, which has risen some 60% in the wake of the U.S.-Israeli war on Iran.

    Norway's Role as a Gas Supplier

    He said Norway, Europe's biggest supplier of gas, would remain a reliable provider of energy to the continent.

    Historical Context and Ongoing Policy

    Europe refrained from capping gas costs during a surge in prices following Russia's 2022 full-scale invasion of Ukraine, and Norway will continue to argue against such a cap, Stoere told an energy conference in Oslo.

    (Reporting by Nora Buli, editing by Terje Solsvik)

    References

    • Norway 'skeptical' about EU gas price cap – PM — RT Business News
    • Energy prices surge as tanker disruptions and facility shutdowns rattle global supply
    • European Energy Industry Urges EU To Not Cap Gas
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    Table of Contents

    • Norway's Stance on European Gas Price Cap
    • Prime Minister's Statement on Gas Price Cap
    • Norway's Role as a Gas Supplier
    • Historical Context and Ongoing Policy

    Key Takeaways

    • •Støre cautioned that a price cap won’t resolve underlying supply shortages and could undermine long-term market stability, noting Norway doesn’t set the prices — gas is sold by taxed companies under license (rt.com).
    • •Natural gas prices in Europe have surged sharply—rising nearly 50–60%—due to disruptions in the Strait of Hormuz and halted LNG production in Qatar following regional attacks (apnews.com).
    • •Europe previously avoided capping gas prices during the 2022 energy shock from Russia, and industry groups warn such caps could harm market trust and deter LNG imports aggressively priced worldwide (worldenergynews.com)

    Frequently Asked Questions about Europe should not set a cap on gas prices, Norway's prime minister says

    1What is Norway's stance on capping gas prices in Europe?

    Norway's Prime Minister Jonas Gahr Stoere said that capping gas prices in Europe would be unwise and that Norway will continue to argue against such a measure.

    2Why have natural gas prices in Europe increased recently?

    Natural gas prices have risen about 60% due to the impact of the U.S.-Israeli war on Iran and ongoing global energy instability.

    3How important is Norway to Europe’s energy supply?

    Norway is the largest supplier of natural gas to Europe and has pledged to remain a reliable energy partner for the continent.

    4Did Europe previously cap gas prices during energy crises?

    No, Europe refrained from capping gas prices during the surge that followed Russia's 2022 full-scale invasion of Ukraine.

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