Gazprom raided in EU antitrust investigation
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Gazprom, the Russian energy giant, and several of its main European customers have been raided by competition authorities at the start of a flagship Brussels investigation into suspected market abuse.
The launch of the antitrust probe, which marks the culmination of a European Union drive to open up gas markets, is likely to be received badly in Moscow and will begin a politically charged chapter in relations between Russia and the European Union.
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Surprise raids were conducted on 20 sites across 10 countries in central and eastern Europe, including Gazprom operations in Germany and the Czech Republic. The raids were targeted on companies either suspected of uncompetitive practices or those that might have information relating to wrongdoing.
“The investigation focuses on the upstream supply level, where, unilaterally or through agreements, competition may be hampered or delayed,” said the European Commission.
“The Commission suspects exclusionary behaviour, such as market partitioning, obstacles to network access, barriers to supply diversification, as well as possible exploitative behaviour, such as excessive pricing.”
RWE confirmed that premises in Essen and Prague were searched, while Eon said the Essen offices of its gas-supply unit Eon Ruhrgas were raided. “We welcome this inquiry and are co-operating fully with EU authorities,” RWE told the FT. Premises of the Austrian group OMV were also searched.
Brussels has been pushing for more links between member states’ gas and electricity networks, worried about the lack of competition which it fears has led to higher prices and sporadic questions about security of supply.
The EU relies on Russia for a quarter of its gas supplies. Recurrent spats with Ukraine over transit conditions left parts of Europe with severe energy shortages, most recently in January 2009.
The EU has sought to liberalise its gas and electricity markets not only to improve prices but also as the cornerstone of its strategy to improve its energy security. EU officials believe more open markets would make it easier for supplies to flow across the continent in times of crisis. The EU’s most recent energy liberalisation package is supposed to prevent companies from controlling both supply and distribution of gas in individual markets.
European officials said the investigation was targeting Gazprom either for alleged anticompetitive clauses in gas-supply contracts, or because of signs of a market-dominating position in eastern Europe. The Commission is also examining areas where suppliers such as Gazprom have been blocked from entering certain markets.
Typically complex Commission investigations can stretch for several years and officials stress that launching raids does not mean that the parties are guilty of misconduct. European competition authorities have the power to impose heavy fines on companies found to abuse their position.
The Gazprom group confirmed its premises had been raided in Germany and the Czech Republic and said the “companies will do their best to fulfil their contractual obligations towards their clients in full scale, while providing support to the European Commission officials”. “Such inspections are standard practice within the framework of EU competition rules ...”
One of several triggers to launch the raid came from Lithuania, which in January formally complained to Brussels that Gazprom was abusing its dominant position as the country’s main gas supplier and acting to hinder the liberalisation of its energy market.
Vilnius said Gazprom’s tight grip on the supply and distribution of gas in the country endangered its long-term energy security.
“In our opinion, the economic and political pressure exercised by the monopolistic gas supplier is aimed at prevention of the restructuring of the Lithuanian gas sector in a way that would encourage entry into the market of other natural gas suppliers,” the energy ministry said at the time. Gazprom denied the claims.
source ft.com
May 19, 2012 - 01:59
