Gazprom offers out-of-court settlement for antitrust case

Gazprom Deputy Chairman Alexander Medvedev

Russian gas producer Gazprom has approached the European Commission with an offer of  an out-of-court settlement of the antitrust case accusing it of overcharging some of its Central and Eastern European customers, including Poland and Hungary by up to 40%. Gazprom, which supplies the EU with one third of all of its gas but also generates more than 50% of its revenue from there, has denied the charges but in May said that it would consider offering Europe new concessions – including on pricing – to avoid expensive and drawn-out litigation.

EC Anti-Trust Commissioner Margrethe Vestager

Details of the concessions now being put on the table have not been made public, but Deputy CEO Alexander Medvedev today said that  Gazprom would soon be setting up a meeting with EU antitrust chief Margrethe Vestager.