Norway, the biggest gas supplier to Europe at the moment, has been accused of profiteering from surging energy prices.

Norwegian Prime Minister Jonas Gahr Støre has had to make time to explain to European colleagues that Norway has no interest in high gas prices as such.

He states as much to media Altinget Norway after facing criticism for profiteering.

”Yes, and then I have to explain that these aren’t revenues we just generate for us to spend. These aren’t revenues that feed directly into the state budget. They flow into the Government Pension Fund Global. More and more are realizing that this is how we manage our resources. Another point is that the crisis is a strain on our budgets as well. It costs us NOK 40-50bn [EUR 3.9-4.8bn] per year to provide support for electricity costs to households,” says Gahr Støre to Altinget Norway.

France reports gas stockpiles filled to 99%

Norway deploys national guard to protect several oil installations

Norwegian Prime Minister guardedly open to cap on gas prices