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EU: Gazprom may offer concessions in EU antitrust case

By  |  May 7, 2015

According to Reuters Gazprom is considering offering Europe new concessions, including on pricing, to settle its antitrust case. They hope to avoid a long legal battle which could result in billions of dollars in fines.

Gazprom currently meets a third of EU gas needs and generates more than half its revenues. They have recently been accused by the European Commission of using its dominant position in eastern Europe to overcharge by up to 40 percent.

A Gazprom official said the company was considering including spot gas prices in more contracts, in what would be a major concession on the main sticking point between the two sides.

“We are working on it,” the official, who did not want to be named, told Reuters.

The Commission has given Gazprom 12 weeks to respond to the charges made last month by the EU’s antitrust chief, Margrethe Vestager.

 

Full content: Reuters

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