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EU: Russia’s Gazprom may face antitrust case against for overcharging

By  |  April 20, 2015

The European Union is preparing an antitrust case against Gazprom, accusing the Russian gas giant of abusing its dominance in the European gas market, the Financial Times reported Monday citing two sources familiar with the situation.

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    EU competition chief Margrethe Vestager could send a formal letter of objection to the Russian company on Wednesday, according to the news outlet.

    The European Commission started a formal investigation into an alleged breach of competition laws by Gazprom, including Eastern Europe overcharges, in 2012.

    State-owned Gazprom is the world’s largest natural gas producer, accounting for up to 14 percent of global natural gas production.

    Russia supplies about 30 percent of Europe’s gas. A number of countries rely heavily on Gazprom for gas supplies.

     

    Full Content: The Financial Times

     

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