Gazprom Given Six Weeks to Respond to Antitrust Charges

Gazprom Given Six Weeks to Respond to Antitrust Charges

The FINANCIAL -- Russian energy company OAO Gazprom said on June 9 it has been granted six extra weeks to respond to antitrust charges from the European Union, according to Nasdaq.

The extension gives Gazprom until mid-September to go through the case file and work on disproving some of the EU charges, or propose a settlement.

"Gazprom is currently going through the extensive case file, analyzing it thoroughly and preparing the appropriate reply," the company said.

The European Commission, the EU's antitrust watchdog, confirmed the extension. "Gazprom argued that it would need additional time, including to assess the issues raised and translate documents," the commission said.

The commission filed formal charges against Gazprom in April, claiming it was hindering competition and charging unfair prices in some Central and Eastern European countries.

Gazprom has rejected the charges as politically motivated.


Author: Temur Tatishvili