Gazprom to be investigated by European Commission

By Marc Castro

Sep 07, 2013 10:58 PM EDT

A formal statement is being prepared by the European Commission for Gazprom to inform them that allegations have been raised regarding anti-competitive gas pricing. As a result, a formal investigation would be conducted on the matter.

This was confirmed by EU Competition Commissioner Joaquin Almunia last Saturday. He said, "Our investigation is continuing. It is an issue relating to the rules of competition. We have sufficient information to go on and we are preparing a statement of objection." He made these remarks at the sidelines of a conference held in Cernobbio, Italy.

He did not make any commentt though on the timing of the investigation or the content of the statement to be provided to Gazprom. 

Last September 4, the European Commission opened a formal investigation into concerns of anti-competitive activities of Russian gas giant Gazprom in the Central and Eastern European gas markets. The three acts include division of gas markets through hindrance of free flow of gas, prevention of diversification of gas supply and unfair price impositions.

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