A PYMNTS Company

EU: Gazprom probe slated to close by spring

 |  November 4, 2013

European authorities said they plan to finalize their investigation of Russia-based gas giant Gazprom by the upcoming spring, and the European Commission may issue a statement of objections to the company as early as this month.

The investigation has increased tensions between the EU and Russia, and Gazprom has slammed the EC’s probe as politically motivated in efforts to reduce EU gas prices.

The EU is looking to increase competition in the gas market and reduce its dependence on Russian energy, according to reports.

EU Energy Commissioner Guenther Oettinger told reporters the investigation into allegations of anticompetitive practices by Gazprom could be finalized by spring, but the regulator also said it needed “more months for investigation on an expert level.”

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.