07:54 GMT +307 December 2019
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    EU Plans to File Antitrust Case Against Russia's Gazprom

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    The European Union is preparing an antitrust case against Gazprom, accusing the Russian gas giant of breach of competition laws.

    Gazprom CEO Alexei Miller
    © Sputnik / Aleksey Nikolskyi
    MOSCOW (Sputnik) — The European Union is preparing an antitrust case against Gazprom, accusing the Russian gas giant of abusing its dominance in the European gas market, the Financial Times reported Monday citing two sources familiar with the situation.

    EU competition chief Margrethe Vestager could send a formal letter of objection to the Russian company on Wednesday, according to the news outlet.

    The European Commission started a formal investigation into an alleged breach of competition laws by Gazprom, including Eastern Europe overcharges, in 2012.

    State-owned Gazprom is the world's largest natural gas producer, accounting for up to 14 percent of global natural gas production.

    Russia supplies about 30 percent of Europe's gas. A number of countries rely heavily on Gazprom for gas supplies.

    Gazprom is currently planning to build a new Black Sea pipeline, dubbed the Turkish Stream, capable of delivering up to 63 billion cubic meters of Russian natural gas annually to Europe via Turkey.

    The company supplied 161.5 billion cubic meters of gas to European countries in 2013, according to statements.

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    anti-trust laws, Gazprom, Russia
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