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28 Sep, 2011 14:04

Gazprom subsidiaries part of EU competition investigation

The EU's antitrust authorities have raided European offices of Gazprom and major customers over possible market abuse.

An investigation covering 10 countries includes Gazprom subsidiaries and partners – German energy groups RWE and EON and Austria’s OMV. In a statement the European Commission said that possisble breaches of competition laws were being looked at."Commission officials undertook unannounced inspections at the premises of companies active in the supply, transmission and storage of natural gas in several member states." "The Commission has concerns that the companies concerned may have engaged in anticompetitive practices in breach of EU antitrust rules or that they are in possession of information relating to such practices," a commission statement reads.Business RT spoke with Vladimir Rozhankovsky, Head of Research at Nord Capital about the possible implications and factors surrounding the move.