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Hungary to vote against gas price cap — Foreign Minister

Gazprom has already warned it would have to reduce gas supplies in case of the price limit

BUDAPEST, December 19. /TASS/. Hungary believes that introduction of a gas price cap is a mistake and will vote against this proposal, Foreign Minister Peter Szijjarto told reporters on Monday.

A trial voting took place during the morning session of the EU energy ministers meeting, with nine countries speaking against the suggested gas price cap, the Minister noted. Voting will continue to achieve the consensus. "However, irrespective of the number of voting rounds to take place, Hungary will vote today against the gas cap, because we believe this is an extremely bad measure that is dangerous for Europe and may jeopardize European supplies of energy resources," Szijjarto said, with his statement streamed by the M1 TV Channel.

Gazprom has already warned it would have to reduce gas supplies in case of the price limit, the Minister said. "This will lead to market narrowing and price growth," he noted. The Hungarian government believes EU countries should endeavor to diversify energy sources and routes of energy supplies to Europe instead of sanctions and restrictions, Szijjarto added.

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