EU and Gazprom close to reaching a deal

According to the European Commission, Gazprom commitments to solve the antitrust issues the bloc had with the Russian gas giant should be enough and provisionally accepted them. “We believe that Gazprom’s commitments will enable the free flow of gas in Central and Eastern Europe at competitive prices,” EC Competition Commissioner Margrethe Vestager said. The Commission filed antitrust charges against Gazprom in 2015, accusing it of breaking several antitrust rules, specifically in the CEE countries, where it sold gas above market prices. Now, the eight EU member states involved in the case, including Poland, have 7 weeks to accept or reject the deal. If it goes through, the European Commission will not fine Gazprom up to 10 percent its worldwide revenue. “In the Commission's view, the commitments offered by Gazprom cover its competition concerns. They help to better integrate Central and Eastern European gas markets, facilitating cross-border gas flows at competitive prices,” Vestager said. Gazprom vowed to remove re-export restrictions and offer prices that reflect competitive price benchmarks, the commission noted.