THE UK Government is eyeing up a deal with Norway to secure a 20-year contract to receive natural gas in an effort to prevent winter blackouts, an unnamed source has said.
According to Bloomberg, an insider said that UK ministers are looking to agree on a price with the Norwegian government but that, because of the length of the proposed contract, there’s a risk the UK could be locked into high costs long-term.
Current price fluctuations mean that suppliers could demand higher prices to bolster their profits but there is uncertainty over whether they can make more money by selling now or in the future.
