Germany is under increasing pressure to accept the price ceiling of natural gas

Czech Finance Minister Zbynek Stanjura said on Wednesday that a large number of European countries will continue to put pressure on Germany to accept the price ceiling of natural gas for gas power generation. Two diplomatic sources said that the EU executive agency told its 27 member countries at a seminar on Monday that it would set a ceiling on the price of natural gas that would affect long-term contracts or supply security. Countries led by Italy, Poland, Belgium and Greece have been pushing hard to limit the cost of natural gas, because these regions are about to usher in the winter when Russia's gas supply is greatly reduced. Germany and the Netherlands believe that setting a price ceiling on imported natural gas is not the best tool to control the energy crisis. Instead, they propose to develop a plan to share the soaring energy costs over a period of time. ADNOC,an national oil company, and GAIL, one of the largest natural gas companies in Czech, recently signed a preliminary agreement to explore cooperation in small LNG gas plant supply and gas dehydration ization unit ,gas purifing unit including short-term and long-term LNG sales agreements. ADNOC said in a statement that the agreement also includes potential optimization of LNG trading activities, review of joint equity investments in renewable energy and monitoring of greenhouse gases in LNG goods to support low-carbon small scale liquefied natural gas  supply. European Union leaders agreed last month to entrust the European Commission with proposing a temporary ceiling on the price of natural gas for power generation to reduce consumer costs. It is reported that the proposed emergency price ceiling mechanism will limit the soaring price of Dutch natural gas TTF, the EU's main natural gas price benchmark, and thus reduce the electricity cost linked to the natural gas price. Stanjura said that the issue was not over. "Countries that wish to do so exert great pressure on Germany, and we will increase the pressure." "Germany is the most opposed... Many Europeans are patiently negotiating with them, trying to change their views." Stanjura said that the European joint approach would save national budgets more than the single approach, so the richest countries would be in the best position to subsidize energy intensive industries. The opposition of Germany and the EU's powerful executive bodies in Brussels upset those who sought to set the ceiling, as well as Charles Michel, the EU's leader and president. Michel sent a letter to the President of the European Commission, Von Delain, on November 7, asking her to put forward necessary legal suggestions.