(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, May 24 (KUNA) -- The European Commission adopted on Thursday a decision imposing on Russian energy giant Gazprom a set of obligations that address the EU's competition concerns and enable the free flow of gas at competitive prices in Central and Eastern European gas markets.
EU Commissioner in charge of competition policy, Margrethe Vestager, told a press conference that "all companies doing business in Europe have to respect European rules on competition, no matter where they are from. Today's decision removes obstacles created by Gazprom, which stand in the way of the free flow of gas in Central and Eastern Europe." "It obliges Gazprom to take positive steps to further integrate gas markets in the region and to help realise a true internal market for energy in Europe. And it gives Gazprom customers in Central and Eastern Europe an effective tool to make sure the price they pay is competitive," she noted. Gazprom is the dominant gas supplier in a number of Central and Eastern European countries. Today's decision imposes on Gazprom a detailed set of rules that will significantly change the way Gazprom operates in Central and Eastern European gas markets. These include: - No more contractual barriers to the free flow of gas. Gazprom has to remove any restrictions placed on customers to re-sell gas cross-border.
- Obligation to facilitate gas flows to and from isolated markets: Gazprom will enable gas flows to and from parts of Central and Eastern Europe that are still isolated from other EU Member States due to the lack of interconnectors, namely the Baltic States and Bulgaria.
- Structured process to ensure competitive gas prices: Relevant Gazprom customers are given an effective tool to make sure their gas price reflects the price level in competitive Western European gas markets, especially at liquid gas hubs.
- No leveraging of dominance in gas supply: Gazprom cannot act on any advantages concerning gas infrastructure, which it may have obtained from customers by having leveraged its market position in gas supply. Therefore, the Commission has decided to make these obligations legally binding on Gazprom, added Vestager. (end) nk.hm
MENAFN2405201800710000ID1096904507
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.