German finance minister says EU LNG price cap should be higher than market prices

BERLIN (Reuters) – A European Union price cap on liquefied natural gas (LNG) imports would have to be noticeably higher than the world market prices, German finance minister Christian Lindner said.

The European Union is considering options to cap gas prices as a growing number of countries pressure Brussels to put a lid on sky-high fuel costs.

Lindner proposed to introduce a “breathing cap” for imported gas to avoid that gas tankers go to Asia instead of Europe.

“Nevertheless, such an instrument could succeed in cutting off the absurd price peaks,” Lindner was quoted as saying by the Rheinische Post newspaper on Saturday.

(Reporting by Riham Alkousaa; Editing by Raissa Kasolowsky)