BRUSSELS, March 13 Gazprom is ready to
comply with EU rules to end a five-year antitrust case and avoid
fines, Europe's competition commissioner said on Monday,
signalling a thaw in business ties between Moscow and Brussels
despite tensions over Ukraine.
"They address our competition concerns and provide a forward
looking solution in line with EU rules," EU Competition
Commissioner Margrethe Vestager said in a statement. "We believe
that Gazprom's commitments will enable the free flow of gas in
Central and Eastern Europe at competitive prices."
The EU executive has invited feedback on its decision from
the eight Central and Eastern European states at the heart of
the allegations that it overcharged customers and blocked rivals
in the region.
In concessions aimed at staving off a potential fine of up
to 10 percent of its global turnover, Gazprom has agreed to make
changes to price revision clauses in long-term contracts and
conditions linked to pipeline infrastructure.
As part of the deal, EU regulators said Gazprom will also
drop clauses in its supply contracts with wholesalers and some
industrial customers barring them from exporting its gas to
(Reporting by Alissa de Carbonnel)