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Current gas price in Europe not sustainable, Equinor VP says

Published 25/08/2022, 10:10
© Reuters. FILE PHOTO: A driver fills a car at a gas station, as a surge in fuel and energy prices in the wake of Russia's ongoing invasion of Ukraine puts increased pressure on Hungarian Prime Minister Viktor Orban's low-cost energy policy for households, in Marton

© Reuters. FILE PHOTO: A driver fills a car at a gas station, as a surge in fuel and energy prices in the wake of Russia's ongoing invasion of Ukraine puts increased pressure on Hungarian Prime Minister Viktor Orban's low-cost energy policy for households, in Martonvasar, Hungary March 18, 2022. REUTERS/Marton Monus

OSLO (Reuters) - Current gas prices in Europe are not sustainable and are at risk of a reversal, said Oeystein Bergsvik, Equinor's vice president for commercial and portfolio in the company's Norwegian unit, on Thursday.

"I'm a bit worried by current price levels. Gas prices today amount to $500-$600 per barrel of oil equivalent and this is not sustainable, so there's risk of a reversal," Bergsvik told a conference at the Norwegian Petroleum Directorate.

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