1. English Edition

EU Steps Up Scrutiny of Gazprom

EU Steps Up Scrutiny of Gazprom
dj
Πεμ, 3 Οκτωβρίου 2013 - 18:30
The European Union's antitrust watchdog has stepped up its scrutiny of OAO Gazprom (SIBN.RS), saying it was preparing to initiate formal legal proceedings against the Russian state-owned energy giant in its probe of how Gazprom supplies gas to Eastern Europe.
The European Union's antitrust watchdog has stepped up its scrutiny of OAO Gazprom (SIBN.RS), saying it was preparing to initiate formal legal proceedings against the Russian state-owned energy giant in its probe of how Gazprom supplies gas to Eastern Europe .

EU Competition Commissioner Joaquin Almunia said Thursday it was still too early to say what kind of action the commission would take, if any, against Gazprom, but said it was preparing a formal "statement of objections," a first step in any legal proceedings.

"It would be premature to anticipate when the next steps might be taken, but we have now moved to the phase of preparing a statement of objections," Mr. Almunia said, according to the text of a speech delivered in Lithuania .

"We suspect that Gazprom has been hindering the free flow of gas across member states [of the EU] and the diversification of sources of supply." He said the commission also suspected Gazprom of imposing unfair prices on consumers.

The statement of objections--usually referred to as an 'SO'--details the commission's concerns about a company's behavior. Once issued, the company has eight weeks to reply. The process then escalates, and the commission ultimately has the power to fine companies 10% of their total annual revenue--which could be as much as around $15 billion in Gazprom's case, as well as making them change their business practice.

Mr. Almunia added that the commission suspects Gazprom has imposed unfair prices on its customers. He was speaking in Vilnius at a European Competition Day hosted by Lithuania , which holds the EU's six-month rotating presidency.

A year ago, the EU escalated its push to break Russia 's domination of Europe 's natural-gas supplies by launching an investigation into its gas supply practices, following raids on the company's offices in September 2011.

Mr. Almunia said the scope of the investigation encompassed the three Baltic states -- Lithuania , Latvia and Estonia --and covered Poland , the Czech Republic , Slovakia , Hungary and Bulgaria .

Russia supplied more than 32% of the EU's natural gas in 2010, the last year for which figures are available, compared with 45% in 2002. But it has effectively been the sole supplier for Bulgaria , Estonia , Latvia , Lithuania and Slovakia , and supplies a large majority of the gas of Poland , Hungary and the Czech Republic .

A Gazprom spokeswoman said the company has "already said all it can" on the investigation, and the company's press service said it "would prefer to respond to concrete documents, not to statements in the press."

The energy giant has maintained that it has always acted according to EU rules.

Days after the EU announced its investigation in September 2012, the Kremlin fired back with a decree preventing the company from disclosing information to foreign regulators without government permission.

Russian leaders have accused the EU of using the investigation as a political tool to secure lower prices. A number of Gazprom's customers in Europe , its most lucrative market, have pressed the Russian company into cutting its prices over the past few years amid competition from other sources.

Διαβάστε ακόμα