Tags: EU | Europe | Gazprom

EU Imposes Sales Conditions on Gazprom in Eastern Europe

Thursday, 24 May 2018 06:38 AM EDT

BRUSSELS (AP) — The European Union is imposing a series of obligations on Russian energy giant Gazprom to improve the flow of gas at competitive prices in eastern Europe.

EU Antitrust Commissioner Margrethe Vestager said Thursday that Gazprom will have to ease its hold on the market there, giving consumers "an effective tool to make sure that the price they pay is competitive."

Following three years of legal action, the decision means Gazprom will have to remove restrictions on customers to resell gas across borders and improve gas flows to members like Bulgaria and the Baltic nations.

If Gazprom breaks any of the obligations, the EU can impose a fine of up to 10 percent of the company's global turnover.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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The European Union is imposing a series of obligations on Russian energy giant Gazprom to improve the flow of gas at competitive prices in eastern Europe.EU Antitrust Commissioner Margrethe Vestager said Thursday that Gazprom will have to ease its hold on the market there,...
EU,Europe,Gazprom
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2018-38-24
Thursday, 24 May 2018 06:38 AM
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