Norway is ready to talk to Europe about the energy crisis

Norway is ready to talk to Europe about the energy crisis.
The Prime Minister has stated that excessive increases in gas prices are not in Norway's best interest.

As a result of Russia's reduction in supply, the EU is looking for methods to lower energy prices.

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This past week, Vladimir Putin turned off the pipeline that feeds Europe with a third of the natural gas that Russia exports to Europe. As a result, the energy crisis in Europe grew to the point where it became a full-blown crisis. The price of natural gas increased by thirty percent at one point, and analysts working for Goldman Sachs predicted that residents of Europe will see their monthly energy expenses triple this winter, reaching an average of five hundred euros, or roughly five hundred dollars, per household at the top.

When things are at their worst, the cost of paying power bills may account for 15% of Europe's gross domestic product, which would put pressure on other types of expenditure and investment. Goldman Sachs has issued a warning that the effects "will be even more profound than the oil crisis of the 1970s."

If Europe is not already in a recession, it is already very close to entering one, and it appears that the worst is still to come. Graham Secker, the senior European stock analyst at Morgan Stanley, believes that a recession is on the horizon in Europe, which will cause profits growth to go into negative territory in the next year. As a consequence, according to Secker, Europe's stock markets, which have already lost 14% of their value this year, may very probably lose another 15%.

In order to find a solution to the energy crisis plaguing the continent, Norway and its gas producers are open to the idea of negotiating with the European Union.

The Prime Minister of Norway, Jonas Gahr Store, made these comments to reporters on Thursday in Oslo: "We are not closing any doors for any form of communication or engagement." "It is not in Norway's best interest for us to experience significant increases in gas prices. We are prepared to discuss any potential roles with the companies, and we are eager to hear their feedback.

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