05/09/2012 14:15:00

Gazprom's EU Troubles are Politically Driven

Related content
28 Dec - 
Westmoreland Amends ROVA Contracts, Creates Cash Saving..

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

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

19/01/2017 11:05:45
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY ..

Form 8.5 (EPT/RI) - E2V Technologies plc

19/01/2017 07:42:34
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY ..

Holding(s) in Company

18/01/2017 15:41:28
For filings with the FCA include the annex   For filings with issuer..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
H.B. Fuller Reports Fourth Quarter 2016 Results
2
Immunomedics Highlights Expanded Pipeline Positioning Company for Sustained Value Creation
3
Universal Stainless to Webcast Fourth Quarter 2016 Conference Call on January 25th
4
Telix Pharmaceuticals and Atlab Pharma Conclude Therapeutic Product Development Agreement for Prostate Cancer
5
Farmers Capital Bank Corporation Announces Fourth Quarter Earnings

Related stock quotes

Dominion Resources Inc 75.72 -0.6% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   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.
 
19 January 2017 15:02:46
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20170103.1 - EUROWEB1 - 2017-01-19 16:02:46 - 2017-01-19 15:02:46 - 1000 - Website: OKAY