EU commission decides on no penalties for Gazprom

The European Commission has decided to impose on Gazprom a set of obligations to address competition concerns.  The Russian company will not have penalties for monopolistic practices. "Today's decision removes obstacles created by Gazprom, which stand in the way of the free flow of gas in Central and Eastern Europe. But more than that – our decision provides a tailor-made rulebook for Gazprom's future conduct," Commissioner in charge of competition policy, Margrethe Vestager said. The rules imposed by EU Commission for Gazprom include an obligation to remove any restrictions placed on customers to re-sell gas cross-border. The Russian company should also facilitate gas flows to and from isolated markets such as the Baltic states and Bulgaria. If Gazprom breaks any of these obligations, the Commission can impose a fine of up to 10 percent of the company's worldwide turnover, without having to prove an infringement of EU antitrust rules.