Russian giant Gazprom faces EU competition probeSeptember 4, 2012 - 21:59 AMT PanARMENIAN.Net - The European Commission (EC) has said it will investigate Russian energy giant Gazprom for possible anti-competitive practices in central and eastern European gas markets, according to BBC News. The commission said it was concerned Gazprom "may be abusing its dominant market position". It will look at whether the firm restricts the free flow of gas across member states, prevents diversification of supply, and prices gas unfairly. Gazprom said: "Let them investigate." The commission said that, if established, Gazprom's practices "may constitute a restriction of competition and lead to higher prices and deterioration in security of supply. "Ultimately, such behavior would harm EU consumers." The probe follows inspections by the commission of gas companies in many EU countries in September 2011. Russia provides two-fifths of Europe's gas imports, and energy policy has been a source of tension between Moscow and the EU for some time. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Director General of Ucom takes part in recruiting conference Ralph Yirikian participated in the Recruit Days business and networking conference organized by Move2Career. Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. Lavrov rejects Armenia’s “defamation” of Russia, CSTO Lavrov decried the Armenian leaders’ “defamation” of Russian soldiers and border guards deployed in Armenia. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. |