Reuters: Competition authorities raid Gazprom offices

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European competition authorities have raided offices of Russian gas producer Gazprom. That’s what sources say to Reuters news agency. The raids come as regulators in the European Union are ramping up investigations into the company’s gas deliveries to Europe.

EU antitrust chief Margrethe Vestager asked gas companies, including Gazprom, in January about the reason for tight supplies. That came after allegations that the Russian company would manipulate prices by withholding stocks. At that time, prices were soaring.

Vestager is likely to gather more information about Gazprom’s European businesses. First, Gazprom’s offices in Germany are now said to have been searched.

Gazprom and the Kremlin have repeatedly denied having withheld gas supplies. In addition, the parties indicate that they have always adhered to the long-term obligations.

Companies that violate EU antitrust rules can face fines of up to 10 percent of their global turnover. Gazprom escaped a fine for abuse of power in 2018, after the company promised, among other things, to guarantee the free flow and resale of gas in Central and Eastern Europe at competitive prices.

Reuters: Competition authorities raid Gazprom offices
Source link Reuters: Competition authorities raid Gazprom offices

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