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It’s time for Europe to ask Norway to cut the price of gas

While any reduction might be politically difficult, it might be in the interests of Oslo to accept one

In the gas crisis there has been one bright spot. Norway — democratic, friendly, reliable Norway — has stepped up to help keep the lights on in Europe, maximising production even at the expense of its own oil output to try and replace every molecule it can of Russian supply.

But as the price of gas has continued to soar, more than doubling since Russia started openly choking exports in June, there are quiet rumblings in the industry. They suggest that it is time to ask Norway to do more, even something that might once have seemed unthinkable: Norway should agree to cut the price at which it sells its gas.

Before the howls of protest from Oslo and complaints from free-market purists, it is worth saying this is nowhere near a formal proposal. But that these views are even being aired privately by hardened oil and gas executives outside Norway suggests they are worth exploring.

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