After months of negotiations and a succession of draft proposals, the 27 countries that form the European Union have agreed to impose a price cap on rising gas prices.
"Another mission impossible accomplished," said the Czech minister for trade and industry, Jozef Síkela, who chaired talks between energy ministers.
"Most importantly it was our duty towards our citizens and businesses who were waiting for us to act," he added.
Under the agreement, the price cap will kick in when prices on the main European gas exchange, the Dutch Title Transfer Facility (TTF), exceed €180 (£157) a megawatt-hour and are €35 (£31) higher than a global reference price for liquefied natural gas (LNG) for three successive working days.
Once activated, it will remain active for 20 days but it can be suspended by the European Commission if it leads to a drop in gas supplies, forces rationing, fuels financial instability, jeopardises existing contracts or...