A PYMNTS Company

Lithuania/Russia: Regs resist pressure from Russia with extended Gazprom probe

 |  October 1, 2013

The Lithuanian Competition Council announced late last month it is extending its investigation into Russia’s state-owned gas giant Gazprom over the company’s operations within Lithuania, a move reports say suggest the country is resisting pressure from Russia.

The investigation, which first began in July of 2012, is looking into the agreement Gazprom made to acquire a stake in natural gas company Lietuvos Dujos when it went private.

Now, in a statement on its website, the Competition Council said the extended investigation would last an additional three months.

According to a spokesperson, the probe is not related to a separate investigation into Gazprom by the European Commission, and instead relates to a received complaint against the company by an unnamed body.

Reports say the Commission’s probe has encouraged Lithuania to more sternly scrutinize Gazprom, which currently provides the country with all of its gas supplies.

Full Content: Business New Europe

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