Europe Union ministers reached an agreement last week on an initial energy package, setting a goal to reduce power consumption and agreeing to tap windfall profits of companies and redirect them to customers and businesses. The bloc has also discussed capping the price of natural gas and power in a bid to protect consumers.
Van Beurden criticized the latter approach, saying that companies like Shell would struggle to bring extra supplies of natural gas to Europe if a price incentive wasn’t there.
“We will do our best to bring gas to Europe where it’s needed, but if the market signal is not there it’s going to be really challenging,” van Beurden said.
Share This: