EU to Continue Gazprom Antitrust Investigation

The European Union intends to continue investigating Gazprom’s position, despite the offer made by the Russian gas supplier last month.

“Plan A is to continue working on the Statement of Objections and, when it is ready, to adopt it,” EU Competition Commissioner Joaquin Almunia said on Wednesday.

A Statement of Objections is a formal step in Commission antitrust investigations in which the Commission informs the parties concerned in writing of the objections raised against them.

According to European Commission’s Article 102 Investigations, the Commission may then take a decision on whether the conduct is compatible or not with European antitrust rules.

Last month, Gazprom proposed changes to its business, including its existing position in Central and Eastern European gas markets.

Almunia reckoned that the offer “opened the possibility” of settling the case.

In August, European Commission opened formal proceedings to investigate alleged Gazprom’s anti-competitive practices. At the moment, EU regulators are studying Gazprom’s practices in the Old Continent, over allegations of dominant position abuse. 

Also on Wednesday, the South Stream project showed its intention to proceed with the operations. South Stream Transport signed an option agreement for the storage and handling of pipe segments with the Port of Varna and the Port of Burgas in Bulgaria.

“This brings additional business to Bulgaria and at the same time ensures timely implementation of the South Stream Offshore Pipeline,” Oleg Aksyutin, CEO of South Stream Transport, commented in a note.