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Russia's Gazprom wants to continue consultations on antitrust investigation with EC

The company considers it necessary to proceed with consultations with representatives of the EC for search of a mutually acceptable solution

© AP Photo/Kai-Uwe Knoth

MOSCOW, September 28. /TASS/. Russian top gas producer Gazprom submitted a letter of response to the European Commission (EC) on claims within antitrust investigation of its operations in the countries of the European Union, the company reported on Monday.

"The document gives reasons for the position of our company regarding each of [the EC - TASS] notification points as well as explains why we think the statements of the European Commission are based on a wrong methodology. Particularly, data is presented for evidence of economic and legal inconsistency of the Commission’s claims about allegedly excessive prices in Gazprom contracts," the report said.

The company considers it necessary to proceed with consultations with representatives of the EC for search of a mutually acceptable solution.

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As TASS reported earlier the EC is ready for talks with Gazprom over the antitrust case. According to the European Union’s competition commissioner Margrethe Vestager, she is ready to meet Gazprom Deputy Chairman Alexander Medvedev on the issue, Bloomberg reported.

On September 23, the European Commission /EC/ and Gazprom launched "technical consultations on the antimonopoly case and Gazprom’s proposals of its solution."

In April of 2015, the European Commission sent an official list of claims within the European antitrust investigation to Gazprom. The EC suspects Gazprom of abusing its leading position on the European gas market, and also has questions to its system of long-term contracts and pricing system.

The official antimonopoly investigation was initiated on the basis of complaints of Lithuanian authorities to the EC on September 4, 2012. The investigation is carried out in the Baltic States, Poland, Czech Republic, Slovakia, Hungary and Bulgaria. Under the European law, the penalty for violation of the antimonopoly regulations may reach 10% of the annual turnover of the company on the market.

Gazprom Deputy Chairman of the Management Committee Medvedev leads the negotiations on the dispute settlement between the European Commission and Gazprom on the antimonopoly case.

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