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.
Nordstream
© Vida Press

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.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Chances for Lithuania to get more funding for N-plant closure increasing – expert

A proposal for the European Parliament to approve the allocation of 780 million euros for the...

European Parliament's rapporteur proposes EUR 780 mln for Lithuanian N-plant closure

The European Parliament is recommended to approve 780 million euros in funding for the Ignalina...

Energmin calls deal on synchronization scenario 'decision of the decade'

Lithuania, Latvia and Estonia have reached a long sought-after agreement that opens the way for the...

Technical scenario for Baltic grid synchronization approved in Brussels (Updated)

The project for the synchronization of the Baltic power grids with the Continental European system...

Danpower agrees to put off amicable deal's implementation

German energy company Danpower has agreed to postpone the implementation of the State of Lithuania's...