October 13, 2017 / 2:14 PM / 9 months ago

EU regulator wants Gazprom to sweeten antitrust concessions

BRUSSELS (Reuters) - EU antitrust regulators want Russian state-controlled gas giant Gazprom (GAZP.MM) to offer more concessons to end a six-year long investigation, the European Commission said on Friday.

FILE PHOTO - The logo of Russia's oil producer Gazprom Neft is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin

The comments by the EU competition authority came after Gazprom deputy chief executive Alexander Medvedev met EU antitrust chief Margrethe Vestager to discuss the case.

“Our exchanges with Gazprom continue and, on this basis, Gazprom will first have to submit an improved commitments proposal. So, there is still some work ahead,” a Commission spokesman said in an email.

Gazprom, which supplies a third of the EU’s gas, is seeking to settle the case with concessions and stave off a possible fine of as much as 10 percent of its global turnover.

Reporting by Foo Yun Chee; Editing by Alissa de Carbonnel

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