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UK PM Johnson says surge in gas prices a 'temporary' problem -Bloomberg News

·1-min read
Cabinet meeting at Downing street

(Corrects name of energy regulator to Ofgem in last paragraph)

(Reuters) -British Prime Minister Boris Johnson said the unprecedented surge in natural gas prices is a "temporary" problem caused by the global economy coming back after the pandemic, Bloomberg News reported https://bloom.bg/3hQcSYa.

"I want to give a general reassurance that the problems we're seeing are temporary," Johnson told reporters traveling with him to the United States, according to the report.

"They are caused by the resurgence of the global economy as COVID starts to retreat in parts of the world," he said.

Johnson said he's "very confident" in the UK's supply chains and will work with gas companies to ensure the consumer's needs are met, the report added.

British business minister Kwasi Kwarteng said on Sunday following a meeting with the head of energy regulator Ofgem that Britain has plans in place to protect the market and consumers from soaring global gas prices.

(Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Michael Perry)

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