Gazprom strikes anti-trust deal with EU

The European Commission and Gazprom have struck a deal under which Brussels will end its anti-trust proceedings against the Russian gas giant in return for some key pledges on competition, writes Keith Nuthall. The Commission said that Gazprom has agreed to remove restrictions placed on customers to re-sell and export its gas and it will enable gas flows to and from central and Eastern countries – such as Bulgaria and the Baltic States – that lack interconnectors to other EU states. Gazprom will also allow its customers to demand prices reflecting those in competitive Western European gas markets and has promised not to leverage potential influence gained through its extensive gas infrastructure network.

European Union Trade Commissioner Margrethe Vestager claimed the deal was ‘a tailor-made rulebook for Gazprom's future conduct’.

Gazprom Deputy Chairman Alexander Medvedev said the company was ‘satisfied’ with the deal and stressed the company’s ‘commitment to comply with [the pledges] in future’.