Norwegian gas deal falls through10 Nov 2022 13:04
The 20-year, multi-billion pound deal with gas firm Equinor would have met Britain's energy needs against the risk of shortages over the coming winter months, but following months of negotiations, the asking price was deemed too high for the Treasury to move forward with.
Gas prices have quadrupled in the last year - and the UK could have been overpaying by eyewatering figures if it had secured a gas discount based on today's market prices, which could drop again once prices settle.