05/09/2012 14:15:00

Gazprom's EU Troubles are Politically Driven

Related content
10 May - 
Detailed Research: Economic Perspectives on Voya Financ..
20 Mar - 
GRID2020 and Dominion Voltage, Inc. Deliver Grid Optimi..
08 Mar - 
Analysis: Positioning to Benefit within Dominion Energy..

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

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Mike Freed Receives “but for” Award from Leadership Florida
2
MEGOLA, INC / THESHARE.TV  (OTC Pink: MGON) APPOINTS ANDREW LANE VICE PRESIDENT OF NETWORK CONTENT
3
Novartis International AG: Alcon AcrySof® IQ PanOptix® trifocal intraocular lens shows superior visual performance in head-to-head trial post-cataract surgery
4
RENAULT : Groupe Renault launches the 2018 employee shareholding plan "Share the Future"
5
BrainChip Visual Analytic Product Demonstrated in Macau

Related stock quotes

Dominion Energy Inc 66.29 0.0% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
18 June 2018 18:33:53
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180613.1 - EUROWEB5 - 2018-06-18 19:33:53 - 2018-06-18 18:33:53 - 1000 - Website: OKAY