Gazprom will no longer be able to speculate on the sale of gas, the European Commission reports in a note after having reached an agreement with the giant that distributes gas in Europe. The obligations imposed respond to competition concerns and meet the goal of allowing free flow of gas in Central and Eastern Europe at fair prices for all.
In summary, the Commission has decided to make certain obligations binding for Gazprom (pursuant to article 9 of the EU antitrust regulation 1/2003). If a company breaches one of these obligations, the Commission can impose a fine of up to 10 percent of the company's worldwide turnover.
"Our decision today, said Vestager, the EU Commissioner for Competition, provides rules for Gazprom's future conduct", forcing the Russian energy giant to "take positive measures to further integrate gas markets in the region and to contribute to the creation of a true internal market for energy in Europe ”.
The new rules will also give Gazprom customers in Central and Eastern Europe "an effective tool to ensure that the price is really competitive".
In April 2015, the executive sent a statement of objections to Gazprom, setting out a preliminary opinion that the company violated EU antitrust rules, pursuing a global strategy of segmentation of the markets of the gas along national borders in eight Member States (Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia).
This strategy, according to Brussels, may have allowed Gazprom to charge higher gas prices in five of these Member States (Bulgaria, Estonia, Latvia, Lithuania and Poland).
The decision taken by the Commission today aims to put an end to this policy, while also imposing a set of detailed rules on Gazprom that will significantly change the way the company operates in central and eastern European gas markets.
Specifically, according to the community executive, contractual obstacles to the free flow of gas will be eliminated, and Gazprom will have to remove any restrictions placed on customers for cross-border resale of gas.
Gazprom will have to allow the flow of gas to and from parts of Central and Eastern Europe which are still isolated from other Member States due to a lack of interconnectors, in particular the Baltic States and Bulgaria.