EU joint gas purchasing platform: The impact on gas markets

In this interview given to Asharq Business Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, comments on the EU’s joint gas purchasing platform.

Dr Carole Nakhle comments on the EU's joint gas purchasing platform and its impact on gas markets in this interview to Asharq Business Bloomberg

Key takeaways:

  • Since its establishment, the European Union (EU) has thrived to adopt a unified energy policy. The establishment of the joint gas purchasing platform emerged amid the high gas prices seen in Europe in 2022 following the war in Ukraine.
  • The establishment of such a platform reduces competition within individual EU members for gas supplies while strengthens the EU’s competitive stance with other markets, primarily Asia.
  • It is simplistic to say that OPEC+’s cuts have failed in their mission; nobody knows where prices would had been if the group did not cut.
  • The economic outlook is one of the biggest factors shaping the trajectory of the oil prices. 

Watch the discussion (in Arabic)

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