EnergyWatch

Gazprom hopes to appease Commissioner with settlement proposal

In efforts to reach agreement with the EU Commission headed by Commissioner Margrethe Vestager, Russia's Gazprom has now submitted a proposal for a settlement.

Several years of conflict between Russian gas giant Gazprom and the EU Commission could be close to a resolution. The case, which has been underway for about five years, but was officially initiated by the Commission in April 2015, concerns the EU Commission's belief that Gazprom has abused its dominant position in eight central and Eastern European countries, in order to demand too high gas prices and place restrictions on further sales of the gas.

The Commission is under the impression that the Russian gas behemoth splits up the Central and Eastern European gas markets, making it difficult for the company's customers to sell the gas on to other countries such as Bulgaria, the Czech Republic, Hungary, and Poland. Gazprom is also under suspicion of using unfair prices in some countries, while the company's dominant position was also allegedly utilized for abuse in relation to wholesale commitments.

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