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Spain's energy minister says European leaders moving towards "consensus" on alternative to gas benchmarking system

MADRID, Oct 7 (Reuters) - Spain's Energy Minister Teresa Ribera said on Friday that European leaders meeting in Prague were making progress on setting a new EU gas pricing system, with Germany and the Netherlands amenable to an option that would create an alternative to the current benchmark.

Teresa Ribera told Reuters in an interview that while countries including Germany and The Netherlands were opposed to a gas cap, the assembled leaders were moving towards a "consensus" on an alternative benchmark price to the Dutch Title Transfer Facility (TTF) gas price which has historically been used as a benchmark for the delivery of both pipeline and Liquified Natural Gas (LNG) into Europe but have been distorted by the shifting supply landscape since the Ukraine conflict. (Reporting by Belen Carreno, editing by Aislinn Laing)