Gazprom must compensate consumers for losses over unfair practices - Grybauskaitė

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Foto: Vida Press

Russia's gas giant Gazprom must compensate European gas consumers for losses they suffered due to its non-transparent gas trade practices, Lithuanian President Dalia Grybauskaitė said after meeting with Maros Sefcovic, the European Commission's Vice-President for Energy Union in Vilnius on Wednesday.

Grybauskaitė underlined during the meeting that real decisions, rather than symbolic steps, were needed to counter Gazprom's monopoly in the European gas market, her press officer said in a press release.

"There can be no geopolitically-motivated gas price differences in the EU and Gazprom's commitments to buyers have to include compensation mechanisms for losses incurred due to non-transparent trade," it said.

After the European Commission completed its probe into Gazprom's alleged abuse of its dominant position in the Central and Eastern European gas market, the Russian group promised in March to remove barriers to the free flow of Russian gas in the region and to supply it at competitive prices. The Russian gas monopoly also pledged to allow customers to renegotiate gas prices in their long-term contracts and to enable gas swap transactions.

Gazprom aims to avoid a fine of up to 8 billion euros. It is estimated that Lithuania suffered about 1.5 billion euros in losses as a result of Gazprom's alleged unfair pricing practices. However, it is said that Russian group's current commitments are insufficient to compensate Lithuania for the losses.

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