Could it be a sign of thawing business ties between Moscow and Brussels? Russian state gas exporter Gazprom is ready to comply with EU rules, to end a five-year anti-trust case and avoid fines.
It has faced claims of overcharging customers in Central and Eastern Europe – and blocking rivals.
Gazprom has agreed to make changes to price revision clauses in long-term contracts and conditions linked to pipeline infrastructure. It wants to see off a potential fine of up to 10 percent of its global turnover.
As part of the deal, EU regulators said Gazprom will also drop clauses in its supply contracts with wholesalers and some industrial customers barring them from exporting its gas to other countries.
“It’s a good thing that we now have draft commitments and can invite the stakeholders to voice their views, be concerned or otherwise, in order to see if this will work,” said Margrethe Versthager, EU Competition Commissioner.