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    Resource Investor: EU Bites the Hand that Feeds It: Gazprom

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Summary

Will the EU be able to actually levy fines for unfair competition and unravel the monopoly? Not unless it plays as dirty as Gazprom, which will simply cut off supplies and the circulation of those European countries that used to be in its back yard. Eastern and Central Europe will be the ones to pay the price for the European Union's battle.

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Resource Investor: EU Bites the Hand that Feeds It: Gazprom

Gazprom has Europe's natural gas market in a stranglehold and Europe is attempting to fight back, first with a raid last year on the Russian giant's offices and then with a probe launched earlier this week against its allegedly illicit efforts to control the EU's natural gas supplies.

The bottom line is that the same natural gas revolution in the US, which was enabled by hydraulic fracturing (fracking), is now threatening to loosen Gazprom's noose on the EU, and Gazprom simply won't have it.

To head off a potential natural gas revolution in the EU, Gazprom is pulling out all the stops, and EU officials say that the company has been illegally throwing obstacles in the way of European gas diversification.  MORE

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