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

OZ Management LP : Form 8.3 - London Stock Exchange Group Plc

30/09/2016 13:53:39
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Admiral Group PLC : Total voting rights

30/09/2016 10:56:00
Admiral Group Plc ("the Company")  30 September 2016  Voting Rights and Capital For the purposes of the Financial Conduct Authority's Disclosure and Tr..

Form 8.5 (EPT/RI) - UK Mail Group plc

30/09/2016 07:58:41
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Bionor Pharma - Preliminary result of the rights issue
2
Sanofi Appoints Alan Main to Executive Committee and Executive Vice President, Consumer HealthCare
3
JCPENNEY ANNOUNCES REFUND OFFER ON ROYAL VELVET® EGYPTIAN COTTON TOWELS AND COMFORTER SET
4
Credicorp Ltd. : Credicorp Capital Ltd. has concluded the acquisition of the remaining stake in Credicorp Capital Colombia and Credicorp Capital Chile
5
Noranda Obtains Court Approval to Sell Aluminum Smelter and Facilities in New Madrid, Missouri to ARG International AG

Related stock quotes

Dominion Resources Inc 74.27 -0.6% Stock price decreasing

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.
 
01 October 2016 04:10:48
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20160921.1 - EUROWEB4 - 2016-10-01 05:10:48 - 2016-10-01 04:10:48 - 1000 - Website: OKAY