Chief Executive of Norway's Equinor Anders Opedal said on Friday that gas prices in Europe will remain high for years as a result of reduced deliveries from Russia due to the war in Ukraine and subsequent sanctions imposed by the European Union.
Opedal singled out the gas shortage in Europe as the main issue, predicting it will continue. "If Europe is to attract gas, it should expect to pay a high price in the coming years," he concluded, promising that Equinor will increase output as much as possible. The company surpassed Gazprom as Europe's biggest gas supplier earlier this year.
In October, the EU unveiled new measures to tackle the ongoing crisis, but the energy ministers postponed the gas price cap decision until the next meeting of the European Council.