‘We should negotiate the energy issue with the Gulf states’ – Middle East Monitor
European Council President Charles Michel announced on Friday that the European Union (EU) is expected to negotiate energy issues with Qatar, the United Arab Emirates (UAE), Saudi Arabia and Algeria, Al Khaleej online reported.
The EU executive has proposed raising more than 140 billion euros ($139.4 billion) to protect consumers from soaring energy prices by skimming revenue from low-cost electricity generators and sharing windfall profits with fossil fuel companies.
“These are good proposals, but more will be needed”, Michel told reportersreferring to EU plans to lower energy prices for European citizens and businesses.
“On pricing, there is a proposal on the table…it’s good but is it enough? I don’t think so, I think it’s important to speed up when it comes to the electricity,” he shared, stressing the need to rework pricing. mechanisms.
EU countries depended mainly on Russian gas; However, since the start of the Russian war in Ukraine on February 24, EU countries have started courting the Gulf states on the energy issue.
Russia’s gas supply to Europe has dwindled due to war and human rights abuses in Ukraine.
READ: We can’t replace Russian gas, says Qatar