The Norwegian Oil and Gas will not force energy companies to sell gas to Europe with discount prices, because this is against the market rules.

I did not pursue the policy to ask Norwegian energy companies to sign a gas selling contract to Europe at a fixed price, Norwegian oil minister Terje Asland wrote in the National Assembly's letter on August 25.

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Photo: Equinor

The statement was proposed by the Minister of Asland after a Norwegian MP should show solidarity and share difficulties with the European Union (EU) by asking the country companies to sell gas at the price.

According to Asland, the market activity needs to follow the law of supply and demand.

He added that instead of discounting, Norway should focus on providing as much gas possible for Europe, to meet the increasing demand and maintain its position as a reliable gas supplier.

Draupner gas rigs in the North Norway.

He said that suppliers in Norway have long been ready to sign long -term contracts if the trade terms are agreed upon by the two parties.

Norway overcame Russia to become the largest gas supplier for the EU, after Moscow cut 80% of the supply through the Nord Stream 1. Russia will continue to significantly reduce the supply of gas for Europe in Europe.

Earlier this month, Minister Aaland also said Olso was considering reducing the amount of electricity sold to Europe if the water level at the hydroelectric reservoir was low.

Some Norwegian politicians also propose to stop exporting electricity until the risk of energy crisis is gone.

Oslo's above move raises concerns about a difficult winter for Europe, especially England, Germany and the Netherlands, three countries depend heavily on the cheap energy of Norway.

Norway is considering reducing the amount of electricity sold to Europe if the water level at these national hydropower reservoirs remains low.