European Commissioner Joaquin Almunia offered an update Friday of the Commission’s continuing case with Russia oil giant Gazprom, say reports, confirming that the company has yet to appease competition concerns.
Almunia confirmed meeting with Gazprom officials Friday to discuss progress in the case, which is looking into alleged anticompetitive behavior by the oil company including unfair pricing practices.
Gazprom has reportedly offered concessions in the regulator’s investigation of the world’s largest gas producer, but reports say the offer does not appease all concerns. Gazprom has been under investigation by the Commission since September 2012 in regards to the concerns, especially with its pricing strategies in eastern Europe; the company has offered to cooperate with the Commission in the case but has resisted any pricing policy changes.
Details of Gazprom’s offer remain unclear.
If the authority and Gazprom cannot reach an agreement, the company faces fines of up to $14.3 billion.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI