The European Commission has cleared Italian energy giant Eni SpA (E) to sell its stakes in three international natural gas pipelines, a move that will improve competition on the Italian natural gas market, the commission said Wednesday.
The European Commission has cleared Italian energy giant Eni SpA (E) to
sell its stakes in three international natural gas pipelines, a move that will
improve competition on the Italian natural gas market, the commission said
Wednesday.
The EU decision makes the sales legally binding on the company, and effectively
ends a European investigation into alleged market abuse by Eni, which could
have led to a fine of more than EUR1 billion.
The commission had suspected Eni of blocking competitors from the Italian gas
market by hoarding gas in its international pipeline network and deliberately
failing to upgrade the capacity of the pipeline despite strong demand by other
gas distributors.
To meet the commission's concerns, Eni will sell its stake in the TAG pipeline,
which carries Russian gas to
Italy
through
Austria
, and
in the TENP and Transitgas pipelines, which cross
Germany
and
Switzerland
.
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