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Gazprom faced a multiple zero fine

The Russian giant Gazprom has not yet satisfy the requirements of the European Union regarding the pricing of natural gas available and the European Commission is likely to blame the company for breach of antitrust policy. The largest producer of natural gas in the world, supplying 25% of Europe’s needs in natural gas, is under investigation by September 2013 for anticompetitive practices, including also the indebtedness of clients and exclude rival suppliers.

Gazprom

Gazprom

Last month, Gazprom appeared willing to close the inquiry lasted for 17 months, however, resist pressures to change the pricing practice in eastern Europe. So far they has not revealed details of the concessions available to do so to avoid a fine which may amount even to 14.3 billion dollars or 10% of its turnover for 2012. The EU Competition Commissioner, Joaquin Almunia, told reporters today that he had met with representatives of Gazprom and Russia in Brussels before Christmas and found that progress has been made in two of the three areas where the EU is concerned.

Gazprom

Gazprom

We have received good reports on two of the three themes, but the prices are not yet what we want, he said. So, we continue to draft the text of our complaints, which can be adopted in the coming months. If in between no satisfactory proposals will eliminate our concerns then we can proceed to a decision, he added.

By Nicole P.

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