December 4, 2013 / 5:16 PM / 6 years ago

UPDATE 1-EU says Gazprom offers to settle antitrust dispute

* Gazprom to offer concessions in coming days

* Offer comes after year-long EU antitrust probe

* EU said last year Gazprom may have abused its dominant position (Adds details, background)

By Foo Yun Chee

BRUSSELS, Dec 4 (Reuters) - Russian gas export monopoly Gazprom will take action in the coming days to address EU concerns that it ramped up gas prices in central and eastern Europe, the European Union’s antitrust chief said on Wednesday.

The move follows a year-long investigation by the European Commission and raids of several Gazprom units and customers in central and eastern Europe. The company supplies a quarter of Europe’s gas consumption needs.

The EU antitrust regulator said at the time that Gazprom may have hindered the free flow of gas across the European Union and imposed excessive prices by linking the price of its gas to oil.

EU Competition Commissioner Joaquin Almunia said Gazprom Deputy Chairman Alexander Medvedev made the offer during a meeting in Brussels. Russia’s deputy energy minister Anatoly Yanovsky was also present.

“This was a constructive meeting, during which Gazprom expressed its willingness to explore the possibility of a commitment based solution to the Commission’s competition concerns,” Almunia said in a statement.

“Gazprom announced that it would present draft proposals in writing in the coming days, which the Commission will assess.”

Almunia said in October that he was ready to take action against Gazprom for breaching antitrust rules, which could result in a fine of $14.3 billion or 10 percent of its 2012 revenues of 4.75 trillion roubles ($143 billion).

$1 = 33.1752 Russian roubles Reporting by Foo Yun Chee; Editing by Catherine Evans

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