EC Launches Gazprom Antitrust Probe

Business » ENERGY | September 5, 2012, Wednesday // 11:51
Bulgaria: EC Launches Gazprom Antitrust Probe File photo by baltic-review.com

The European Commission has launched an investigation into anti-competitive practices by Russian energy giant Gazprom, as it is suspected of hindering competition in Central and Eastern European gas markets in a breach of the bloc's antitrust rules.

The Commission has concerns that Gazprom may be abusing its dominant market position in upstream gas supply markets in Central and Eastern European Member States, in breach of Article 102 of the Treaty on the Functioning of the European Union.

The Commission is investigating three suspected anti-competitive practices in Central and Eastern Europe.

First, Gazprom may have divided gas markets by hindering the free flow of gas across Member States.

Second, Gazprom may have prevented the diversification of supply of gas. Finally, Gazprom may have imposed unfair prices on its customers by linking the price of gas to oil prices.

In a press release, the European Commission has pointed out that such behaviour, if established, may constitute a restriction of competition and lead to higher prices and deterioration of security of supply, thus potentially harming EU consumers.

In September 2011, the Commission carried out inspections at the premises of gas companies in several Member States.

The Commission has informed Gazprom and the competition authorities of the Member States that it has opened proceedings in this case.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: gas markets, competition, anti-competitive practices, Gazprom, Central and Eastern Europe, European Commission

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria