A week after targeting Google, the Eye of theEuropean antitrust moves up Gazprom. Denmark's Margrethe Vestager, EU Competition Commissioner since November, intends to prosecute the Russian energy giant for the monopoly exercised in the export of gas. The first formal step in the procedure will be a letter of objections, which could be sent as early as tomorrow, upon Vestager's return from the United States.
After sending the document, exactly like Google, Gazprom will have 10 weeks to fight back, but if an agreement is not reached, the Moscow giant may have to pay a fine of up to $14,3 billion, equal to 10% of its turnover in 2012, the year in which the EU investigation was officially opened (at the time the Competition Commissioner was the Spanish Joaquim Almunia).
From Washington, Vestager promised firmness against "energy companies that damage their rivals, block the flow of energy from one EU country to another or threaten to turn off the taps". The number one of the European Antitrust has not mentioned the name of Gazprom (which in 2014 met 27% of European gas needs, exporting 147 billion cubic meters), but the reference leaves no doubt.
On the other hand, in an interview a couple of months ago, Vestager had been much more explicit: "If you see it as a political case then any moment is the wrong one – she said -, but in my opinion the case holds up and it might eventually go to court."
The case began on 27 September 2011, when Brussels raided about twenty Gazprom offices in ten Eastern European countries. The formal investigation was opened a year later. Since then, Europe's sights have focused on three aspects: Gazprom is accused of hinder the re-export of supplies, to impose different oil prices according to customers (in Latvia, for example, they are a third higher than in Germany) and by link contractual conditions to cooperation in other business areassuch as the construction of gas pipelines. Exactly what Gazprom is doing now with Greece: just today the CEO of the group, Aleksei Miller, is in Athens to ask that the new Turkish Stream pipeline be allowed to pass through the Greek country in exchange – according to reports – for financing.
The EU antitrust investigation into Gazprom had been frozen when Russia invaded Crimea and the crisis with Ukraine worsened, putting gas supplies to Europe at risk. Now it's starting again, but the Russian giant does not spare threats, to the point that in recent days it has speculated for the first time about "taking a break" as a supplier to Europe after opening the new and very rich exports to China.
