Wednesday, April 22, 2015

Gas delivery to Europe: EU Commission threatens Gazprom with mega punishment – ABC Online

Updated on Wednesday, 04/22/2015, 13:19
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The European Commission raised in the dispute over market power Gazprom pressure on the Russian energy giant. She sent the Group objections and threatened with an EU fine of up to ten percent of annual sales.

In the dispute over the market dominance of Gazprom in Central and Eastern Europe, the EU Commission threatens the energy giant with a billion fine. The EU authorities sent Gazprom on Wednesday in the running for two years antitrust official objections.

With this step, Brussels increases the pressure and threatening to EU antitrust fine, up to ten percent of annual sales ( could amount to around 150 billion euros). The EU authority raises Gazprom claims to have foreclosed the Central and Eastern European gas markets.

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tensions between EU and Russia

The case also has a political dimension, since many EU countries are dependent on the energy supply of Russian gas and there are tensions between the EU and Russia on this point.

According to the European Commission’s view, Gazprom has in eight EU countries – impeding competition on the markets – Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia. Thus, major customers were entitled to resell acquired natural gas only partly in other countries.

These Gazprom export bans have been able to charge excessive prices in five countries. In addition, the Russian company had done its gas supply to Bulgaria and Poland investment in its own pipeline project dependent.

The European Commission investigated since September 2012, the business practices of Gazprom. In discussions of the Russian company had offered concessions, but not enough of the European Commission. The negotiations were interrupted since the Ukraine crisis.

Gazprom has allegations

The Russian gas monopoly Gazprom has denied the allegations of the European Commission to illegal business practices. The allegations were unfounded, the state company said on Wednesday. The objections raised against the work of Gazprom had only one stage of the current anti-trust case, it said in the release of the company.

“That does not mean that Gazprom has made the breach of EU antitrust guilty” emphasized the Group. The company abiding by the laws of each EU country and rather use similar pricing models like other companies.

The European Commission had the group sent earlier in the running for more than two years, methods official objections. The EU authority raises Gazprom ago, the Central and foreclosed Eastern European gas markets to have to drive there prices up

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