05/09/2012 14:15:00

Gazprom's EU Troubles are Politically Driven

Related content

VLADIVOSTOK, Russia--Russian natural gas giant OAO Gazprom's (GAZP.RS) troubles in Europe are driven by "political factors" and "didn't appear yesterday," the country's Economy Minister Andrei Belousov told Dow Jones Newswires Wednesday.

Speaking on the sidelines of the Asian-Pacific Economic Cooperation group summit, Mr. Belousov blamed European buyers of Gazprom's gas for "trying various means, not always proper, to create better conditions for themselves, including the ones we've seen."

"From the economic point of view Russian gas is profitable for Europe, which can be proved by simple calculations," he said. "There is no alternative to Russian gas in Europe."

The European Commission said Tuesday it has launched an investigation into whether Gazprom had breached antitrust rules by hindering the free flow of gas across European Union member states, preventing countries from diversifying their gas supplies and imposing unfair prices on its customers by insisting in contracts that the price of its gas be linked to oil prices.

Mr. Belousov declined to comment on the announcement as it "should be studied first."

He said, however, that limitations to Gazprom's business in Europe, if they materialize, may cause a slowdown in Russian gas production and export growth.

Write to Alexander Kolyandr at alexander.kolyandr@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 05, 2012 09:15 ET (13:15 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

Rathbone Brothers Plc : Director/PDMR Shareholding

29/04/2016 15:31:03
Rathbone Brothers Plc Director and PDMR Shareholding The Rathbone Savings Related Share Option Plan On 29 April 2016, options over Rathbone Brothers ..

Novae Group plc: Holdings in Company

29/04/2016 12:41:31
  TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi   ..

Majedie Asset Management Ltd : Form 8.3 - HOME RETAIL GROUP

29/04/2016 10:35:51
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTI..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Cnova N.V. : Cnova N.V. - Receipt of NASDAQ Notice of Deficiency
2
Annual financial statements for 2015: Challenging financial year with significant progress on strategy implementation
3
LATAM Airlines Group Announces Filing of 2015 Annual Report on Form 20-F
4
Bombardier Announces the Election of its Board of Directors
5
Statement of Fiscal Policy and Fiscal Strategy Plan presented for the first time

Related stock quotes

Dominion Resources Inc 71.47 0.6% Stock price increasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2016   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
30 April 2016 15:59:49
(UTC) Dublin, Edinburgh, Lisbon, London
Version: ReleaseBuild_20160421.1 - EUROWEB2 - 2016-04-30 16:59:49 - 2016-04-30 15:59:49 - 1000 - Website: OKAY