“Today we see a lack and shortage of gas in the world market.
This gas can go to the Asia-Pacific region, and we will get a deficit on the European market, which will be covered by no one knows what and how the price will be formed in the future.
Suppliers will leave for other electronic trading exchanges where there are no such restrictions,” Novak said.
According to him, the market still does not understand exactly how this mechanism will work and what it will lead to.
“In the case of such restrictions, other markets will look for the resource, that is, the liquidity of such a market can be significantly reduced.
I mean the European market,” the Deputy Prime Minister added.
Earlier, the Minister for the Environment, Energy and Enterprise of Malta, Miriam Dalli, said that the energy ministers of the EU member states agreed on a gas price cap of €180 per MWh.
It will take effect on February 15th.